Short answer
Before you sign an agreement of sale, an offer is not binding, so you can say no. After you sign, backing out depends on the contract: you may owe damages or the buyer may sue to enforce the sale unless a contingency or cancellation right applies. Read the agreement and ask an attorney first.
Offer versus signed contract
A cash offer by itself is a proposal. Until you sign an agreement of sale, you can usually decline, counter or walk away. The key word is usually. Read anything you sign carefully, because some paperwork presented as a simple offer or intake form contains language that creates obligations.
Once both sides sign an agreement of transfer, which is how Pennsylvania's Seller Disclosure Law describes the contract, you are bound by its terms.
After you sign
What you can do depends on what is written. Many agreements have contingencies that let one side cancel in certain cases, such as a failed title search or an inspection problem. Without one of those, backing out can expose you to a claim for damages or a lawsuit to force the sale. An attorney can tell you what remedies the contract allows.
One special case: for wholesale deals under Pennsylvania's Act 52 of 2024, a law firm summary says the agreement must disclose a right to cancel until the sooner of 30 days after signing or when the property is conveyed, with a refund within ten business days. If your buyer is a wholesaler, check whether the agreement includes this.
Reasons sellers back out, and how to handle them
Sellers back out because a better offer arrives, because the house suddenly sells to a family member, because a probate or divorce issue changes who has authority to sell, or because they realize the price is too low. Some of those are avoidable by doing homework first. Get a second offer and a listing price opinion before signing, not after.
If a real problem comes up, such as a co-owner who did not sign, tell the buyer and your attorney right away. Talk before you stop answering. A buyer who hears early may agree to a mutual cancellation in writing.
What to confirm before you sign anything
Ask what happens if either side cancels. Ask whether the buyer can assign the contract. Ask about the buyer's deposit, if any. Ask for the closing date and what happens if it slips.
Kaizen Home Buyers makes a cash offer within 24 hours and closes typically in 14 to 30 days or on your date. Have your own attorney review any agreement before you sign. A cash sale should be easier to count on than a financed one, but the paper still decides who can do what, so read it first.
A better plan: decide before you sign
Most regret comes from signing too early. Take a day. Ask for the full agreement, not just a summary page. Collect a second offer or a listing opinion. Talk to your co-owners, your lender and any heir who may have a claim.
Pennsylvania's Seller Disclosure Law also gives you a window to amend your disclosure in writing before the agreement of transfer is signed. Use that time to make sure what you tell the buyer is accurate, so the deal is less likely to unwind later.