Rocky G.H. Hawrysz
Prudential California Realty
"Committed to your success!"
The seller has a right to cancel in situations where the buyer has defaulted or has not met the obligations including clearing or signing off on your contingencies for buyer inspection, appraisal and loan approval.
You said the seller was cancelling "we have not met financial commitment."
DId you release your contingencies on schedule? Or are you late, and you have been served Notice to Perform but you didn't? In which case the seller has grounds to cancel
If you have an agent representing you, what advice is he giving you, considering you're from out-of-state?