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Tips for Backing Out of a Home Purchase

More buyers are canceling deals. Here are ways to do it with minimal financial fallout. 

An "Open House" sign outside a home in Nashville, Tennessee.

An "Open House" sign outside a home in Nashville, Tennessee.

Photographer: Luke Sharrett/Bloomberg

US homebuyers are getting cold feet.

Home-sale cancellations are rising, as higher mortgage rates and fears of a recession give potential buyers second thoughts about whether this is the right time to jump in a housing market that appears to be cooling down.