for wholesale real estate can you back out of a seller agreement

[Ran Iarovich]

I have a contract for a fix and flip house but I figured out the arv is much lower than I thought. Can I back out of my contract with the seller with no repercussions? If not what are the common contingencies?

[David Lee Hall, III]

What does your contract say? I have cancelled many agreements, usually I will lose my hand money. If there are no "outs" in your contract to allow you to exit, in theory you could be taken to court for the funds. (Unlikely as it is.)