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Signed Contract but backing out

Anyone have any experience with backing out of buying a house with a builder before it's built? Long story short, my wife and I signed a contract a few days ago with an earnest money payment plan. She's having cold feet because we can't afford the payments on one income. We are only $8k in since we just signed. No foundation has been poured and no design center options were made. We are still 2.5 months away from the foundation being poured they won't pour it if we ding make an emd payment.

Since she's a cobuyer we can't do the deal without her.

The contract has no contingencies and it's definitely in their favor. Will the builder likely come after us for the remaining $22k for a house that is not built? We are in Texas.

submitted by /u/Muted-Tea2302
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1ipxl04/signed_contract_but_backing_out/
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