You can get out of a real estate contract in Iowa during several stages of the buying process. First, the offer must be accepted to make it binding. If the seller rejects the offer, the buyer can make a counter-offer or leave the deal.
If the seller agrees to the offer and has not signed it yet, it can be rescinded. According to Iowa law, buyers may also cancel their purchase for a full refund until midnight of the third business day after the sale.
The information for this answer was found on our Iowa Real Estate Purchase Agreement answers.