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In this tutorial, the speaker discusses the process of canceling a real estate purchase after an offer has been accepted and escrow opened. They emphasize that buyers are generally protected under the residential purchase agreement, which allows them to back out of the contract for nearly any reason during the inspection due diligence period. This includes discovering issues during inspections, having cold feet, or even personal circumstances like job loss. The speaker reassures that if the cancellation occurs within the designated inspection period, buyers can retain their deposit, alleviating fears of losing money.