If all parties haven't signed the purchase agreement, you can withdraw an offer on a house without any consequences. If you're contracted to buy a home, you likely offered an earnest money deposit. In that case, you can withdraw the offer and receive your deposit if it meets any of the contingencies in the contract. For example, if the home inspection uncovers significant defects, you can usually withdraw your offer as long as that was a contingency in your contract. If there isn't a contingency that covers your situation and the purchase agreement is signed, you may lose your earnest money deposit if you withdraw your offer. You could also face legal action.