Legal Question in Real Estate Law in Maryland

Re: Real estate purchase cancel?

Only if your contract with the seller allows you to do this. While federal law allows a person refinancing a mortgage to cancel with 3 business days, that doesn't apply to a purchase. Perhaps if you speak to the seller and they have a brisk market, they'll allow you to do this without penalty or will let you off the hook for a processing fee. Otherwise, you're liable to lose you earnest money deposit.