I signed a land contract for a purchase of a house. I absolutely love the house, however my job is having me relocate. I gave a 5000.00 deposit for the contract and I have until June of this year to purchase. However, now I no longer need to purchase the house. If I walk out of the house now...do I owe until June. Also, will they use the 5000.00 deposit for any repairs needed to the house or would I have to pay in addition to the 5000.00 deposit. I know that I lose the deposit...I am just worried that I may have to pay to get the house repainted, etc.