If you are buying a bank owned property, there may be a bank addendum which overrides the Form 21 or Form 35 provisions. That is an example of how your situation can be very fact specific.
Same notice as on prior answer.
For that analysis to have any application at all, you would need to have used the standard Form 35 addendum.
I would also repeat what others have said about the need to consult legal counsel in this matter. These situations can be very fact specific. For example, assuming the Form 21 purchase and sale contract was used (not the condo form), the lack of a legal description can make your contract generally unenforceable. An attorney should be able to fully analyze your situation.
Notice: This answer is not intended to provide legal advice, and in fact suggests the reader obtain legal advice. To obtain legal advice you would need to contact an attorney who would agree to review the facts of your specific situation.
You can cancel anytime. The consequences for canceling will be in your contract. If you are using the standard forms provided by NWMLS, your earnest money may be at risk, but would also be the most you are at risk.
You may have several legitimate options to cancel however, if you are in the proper time frames. This could include your inspection contingency, the seller's disclosure, title or neighborhood review just to name a few. The timeframes attached to these are in your contract.
Before you hire a lawyer, start with your agent. If you used the listing agent, you may want to review the contract carefully yourself first, the listing agent represents the seller first and foremost. They owe you a duty of professionalism, but not of full representation.
In Washington, there are usually several buyer discovery addendums that include clauses allowing exit without penalty. Earnest monies are held in escrow, and if there is a legitimate legal cause for exit, monies can then be released back to the buyer. However, all clauses are not included in every contract. You would have to refer to the timelines provided in each individual addendum. If you have any questions about a contract already in force, an attorney or your Real Estate professional can show you the options provided in your purchase and sale agreement.
To begin with, you should pose this question to your agent --and the Managing Broker of the real estate firm that is representing you. They will have a better perspective on your circumstances, and they may be able to refer to an attorney with whom they have experience. Good luck.