[onetwo_threefour]

Well,I'm posting from my blackberry and don't want to get into too much detail, but say one wanted to explore the option of backing out with the builder's blessing, or assigning the contract to a third party for example, but without running the risk that the builder may have an alternative buyer waitng in the wings and use the inquiry as a means to declare a breach of contract, retain the deposit and sell the unit to another party at full price, thereby making an extra profit. Admittedly, in the current market this is a fairly unlikely scenario, but depending on the location and desirability of the unit, it is still possible, especially if it was a sold out building. If there is also a large deposit in play, the builder has the option of grabbing it back and marketing it at a lower price to try and preserve its profit or as much of it as possible since they have a large deposit as a buffer against any losses.

The way I could see this arising would be a buyer sending a note or email to the builder along the lines of, "based on recent market movements I will be unable to complete the purchase of my unit. I would like to discuss alternatives with you."

Unfortunately, the first sentence may be loose enough to give the builder the option of teminating the deal without further notice or discussion.

That's just off the top of my head and all I want to type on the BB.