Legal Question in Real Estate Law in California

Not if you are the buyer. If you are willing to forfeit your deposit (if you signed the liquidated damages clause) or pay the actual financial losses incurred by the seller, you can breach the contract and not buy the property. If you are the seller, however, the buyers have the option to force you to sell. This all assumes of course that there are no unremoved contingencies or other grounds for cancelling the contract within its terms. Changing your mind is not a contingency of the obligation to complete the sale.

Are you buyers or sellers? Sellers are sometimes, not always, sued for specific performance and obliged to sell (when all seller contingencies are removed). If you are the buyer, however, your failure to close the deal most likely will result in a loss of deposit. Each party may also need to consider whether its agent or broker has earned a commission by bringing the deal to the present position. This is somewhere between possible and likely.