A friend of mine is selling her home, can she back out now or is it too late?

She can be successfully sued for specific performance. She can be obligated to pay any expenses that the buyer has incurred, inspections, appraisals, etc.. She will have to pay the Realtor commissions, most likely any title work that has been done and any legal expenses.

Ok, let's get past this "your friend" business. We all know it's you.

Second of all, I really hope you don't base your decision on what these people say. Yes they can sue you, but I seroiusly doubt that they would. My personal opinion, is go to a real estate attorney in your area and find out the actual answer.

Read over the purchase agreement, you might find a way to get out of it that way.

There are a million other ways that you can get out of it, but I would start with getting advice from an attorney.

Bottom line, is you haven't sold your house until you sign on the dotted line.

She could pull out but there are severe repercussions. The buyers can sue her and have the courts force her to complete the sale.

Once she accepted the buyers offer, she is locked in. If it was the other way around, the buyers would have to forfeit that $1000 to $2000 earnest money they gave when they made the offer.

Legally it is too late. They buyer can sue her to force the sale or for the full purchase price plus damages for pain and suffering.