Hi Ed,
I see you find yourself in a pickle. I hope your Realtor has explained to you that walking from a contract is most likely going to cost you some money. Generally speaking, you will likely lose your $2,000 deposit, and there is the chance that the sellers will not think that keeping your deposit is enough to satisfy them. Most contracts used by MLS Realtors in KY have a provision allowing the seller to sue for specific performance. That means they could sue asking the court to require you to buy the house, or to have you make up any money they might lose from selling, to another buyer, at a lower price than you agreed to. A lawsuit like this seldom makes it to court, and the sellers may not sue--but most likely, they can. A contract to sell or purchase real estate is a legally binding contract, and there are ramifications for not following through on either end. Good luck, Ed
John Burns
Century 21 Partners
Owensboro, KY http://www.century21partners.com

So, you submitted an Offer to Purchase with 2k in Earnest Money and the offer was accepted. You've been through inspections and closing is set for Feb.___.

Withdrawing now would be considered breach of contract so the sellers could sue you for performance. Will they? I don't know. It is rare for them to do so but not unheard of.

Will you lose your earnest money? Read your contract carefully to find out.

Your buyer's agent can help you figure out what your options are.

Your executed sale purchase contract governs what will take place in order terminate the agreement. Your buyers agent can review the terms. If you are within option period you might have entire $2k return however executed agreement will state those conditions.