Why did you agree and provide an earnest deposit if you don't want the house? You can always back out of a contract, but the price of doing so varies as you go along. Don't agree if you don't agree. In many states a verbal contract is still recognized because it is a contract. Buyer's remorse gets more painful the further into the process one goes, so the earlier you nip it the better, but not entering an agreement you don't really want is the best practice.