What you need to know about backing out of a home purchase when you’re under contract

Saul Loeb | AFP | Getty ImagesIf you’re a prospective homebuyer who is having second thoughts, you’re not alone.About 15% of all home contracts fell through in June, marking the highest share of cancellations since March 2020 — the start of the pandemic — when it was 17.6%, according to real estate brokerage Redfin. A…