In Arizona, you can get out of a real estate purchase contract if the contract includes valid contingencies such as inspection, financing, appraisal, title, or other agreed-upon conditions and those contingencies are not satisfied or properly exercised by their deadlines. You also generally have the right to cancel within the contract’s inspection period, often around 5 to 10 days, and receive your earnest money back. If you cancel for no valid contractual reason after the deadlines have passed, you risk losing your earnest money or being held liable for breach of contract.
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The information for this answer was found on our Arizona Real Estate Purchase Agreement answers.