<prompt> Human: I signed a purchase agreement for a house last week after re-evaluating my current life circumstances, Ive decided not to go through with the purchase. It is a private party or arms length sale. Something doesnt feel right about proceeding with the purchase the stress is a red flag for me. I havent notified the owner of my change of mind yet. Is it possible for the owner to take legal action against me? I havent signed any papers for financing yet havent scheduled an appraisal although I had an inspection done on the place the roof is in need of some repair work. My loan officer seems to think that the need for roof work would be enough for me to legally back out. I am regretting not taking my time prior to signing the purchase agreement now I am afraid it could blow back on me with some sort of legal action, not to say the owner would pursue that but I cannot be sure of it. Is there anything I should know to protect myself?  <response>: pending inspection appraisalThis is your get out of jail free card. Do the inspection, pick X reason to bail on the purchase agreement. You are not obligated to continue with the purchase if you find something in the inspection you dont like. This is why the inspection clause is there. 