[Question] How to cancel a property sale legally?

[Bingmiao]

Two month ago, I signed a offer to purchas a property when I thought my financial situation is fine. And I have deposited first payment to the attorney. The register has not taken place yet. However, now, I've found some difficulties in my financial situation, and I want to cancel the sale. How can I do it properly without against the law.

[QUINN]

It will be very difficult, you will most certainly lose your deposit.
Best advise is speak to the seller, agent and attorney at the same meeting ASAP

[Dave A]

I believe some wicked people who get buyers remorse phone their bank and tell them they don't think they can afford the bond/about to get sued/may be losing their job. The bank pulls the finance and hey presto.

Once the deal is well and truly dead the crisis might also magically disappear.