Dear George: I’m selling my home. An agent for a potential buyer told me that her buyer can back out of the sales contract any time for any reason. She also said that I wouldn’t get to keep the earnest money deposit. Is this true?

Answer: If you sign a contract with a termination option, then the buyer can exercise his option to back out of the contract for any reason during the option period and would be entitled to his earnest money. That length of that period would be defined in the contract. Once that period has expired, a buyer who backs out of a contract to purchase real estate would not be entitled to his earnest money and might be subject to penalties defined in the contract. It would be wise for you to call a Texas REALTOR® for assistance selling your house – he or she could have walked you through this part of the contract and could explain any future questions you may have.