Legal Question in Real Estate Law in California

Re: Seller's remorse

You are more or less at the buyer's mercy. Once you are "in contract" by virtue of all contingencies being removed, it is said that so-called "equitable title" passes and the buyer becomes the beneficial owner at that point, and entitled to have legal title conveyed.

Because of all this, the buyer can sue you for breach of the contract of sale and can demand either money damages or, more likely, a remedy called "specific performance" in which the court orders the sale of the house to the buyer on the original contract terms. A buyer demanding specific performance may also be entitled to court costs, money damages, and, if the contract has an attorney-fee provision (most do), the buyer will also get an award of attorneys fees.

It is possible that you can negotiate a settlement with the buyer where they agree to walk away from the deal for a sum of money, but among other problems, if you have an agent, you will almost certainly be liable for their commission in addition to whatever you have to pay to buy off the buyer.

One other thing I should mention is that your agreement might also contain mediation and/or arbitration clauses. If so, the buyer would have to use those procedural pathways instead of or in addition to going directly to court, but the ultimate result could be the same, as arbitrators also have the power to award specific performance.