Where is your lender on this transaction in which the property doesn't appraise for the contract price?
You want to know if non-attorneys thing an email is a binding and legal document? It's not going to happen!
Can you back out? Doing so could result in some level of accountability.
As mentioned many times earlier, you might want to consult an attorney......
Real Estate agents are professionals and we do this kind of thing all the time so it would behoove you to use us for a purchase, believe me you won't get a better deal from a seller who is to cheap to list his property he is already a greedy person.
You will probably pay more for a house with the aid of a professional agent.
If you worked with a Realtor asked him or her to go over the contract with you. Your cancellation has everything to do with what is in the contract and if you are still in your "inspection period" to cancel.
If you didn't have a Realtor contact an attorney to answer any legal questions regarding the contract.
A LAWYER would not answer your legal question based on the information supplied; why should we?
All sorts of legal issues, Statue of Fraud, Statue of Limitations, contract law, Electronic law, Sure I have 9 hours of Grad level law courses that I took getting my Business and Econ degrees, and 30 years of handling legal issue for my company, but Ca-lexa NO way would you get my answer to your question.
This is of your making, we can not bail your but out of something we have no knowledge of, YOU made up your very good mind to go it alone, we can not help you, why should I stand to loose my
ability to sell real Estate to help you?