Hi, William, do you have a Realtor as your exclusive representative? Doesn't your agent have the answers you need? You should consult with your agent, your broker, and your attorney about your options.
I am not familiar with the particular details of your purchase agreement, so this is general information. Usually, the buyer has the right to conduct inspections and request repairs, but usually, the seller has no obligation to make repairs. The buyer may have the right to cancel the agreement under a contingency if repairs or other remedies, such as repair credits or price reductions, cannot be negotiated that are satisfactory to the parties. The seller may have the right to cancel the agreement if the buyer does not remove contingencies as specified in the purchase agreement. Neither the buyer nor the seller can "just walk away," but rather they each may have cancellation rights under the purchase agreement.
I am a real estate broker qualified to advise you on California real estate matters, not the law. If you desire legal advice, consult with an attorney.
Hope this helps!