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In this video, realtor David Calhoun discusses whether a buyer can back out of a signed purchase agreement. He emphasizes that he is not an attorney and advises seeking legal counsel for specific legal advice. The topic is especially relevant due to increased buyer apprehension linked to COVID-19. Calhoun explains that the ability to back out depends on the transaction's status. He notes that all purchase agreements include built-in contingencies designed to protect buyers, which may influence their ability to withdraw. Ultimately, understanding these contingencies is crucial for buyers considering backing out of a contract.