The other two repsonses to this question are right on, you need to consult with a real estate attorney, not just an attorney. Make sure the attorney is versed in real estate law. There are contingencies in a contract to protect the buyer and the seller. It depends on how far through those contingencies you are. But, as the buyer, you have your financing contingency to protect you. If you cannot get a loan now because of a job situation, you can send a release form to the seller side and proof from your lender that you no longer are approved for your loan. Again, consulting an attorney is in your best interests. I hope everything works out for you.