The purchase contract is binding if all parties have signed to it; however, in Oklahoma, we have different timelines for inspections and repairs.? If you were within those timelines and they agreed to those repairs, then you are still within the terms of the contract; however, if you submitted a list of repairs that you wanted done within the the timelines required in the contract, but they do NOT agree to do those repairs, then that is their loophole to get out of the contract.? In Oklahoma, though, you can't just cancel a contract just by saying it is cancelled.? There is a Release of Contract and Earnest Money that needs to be completed.? If the negotiation of the repairs are what is breaking the deal, then you should be able to get your earnest money back, but your agent will be able to help you with that.? If in doubt, always talk to a real estate attorney in order to get the specific laws and see exactly where you stand legally.
Lastly, the sellers can continue to show the property in order to obtain a BACKUP contract in the event that your deal falls through, even if your contract is still active and in force.?
There are so many dependent factors to consider.? Good luck and I hope it goes the way you want it to.
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