re: Backing out of Purchase Agreement

I would just keep the deposit, which should be easy to get from the broker. I agree you can go after the 10% because they breached the contract, but I don't think it would be worth the headache after time and legal costs. Your agent should easily reschedule the showings since it has been less than 2 weeks and the deposit should be enough to cover any extra costs occurred in that time period.

For Reference, if using the standard LREC PA:

Lines 184-187 state (in all caps):

FAILURE TO GIVE WRITTEN NOTICE OF EITHER TERMINATION OR DEFICIENCIES AND DESIRED REMEDIES TO THE SELLER (OR THE SELLER'S DESIGNATED AGENT) AS SET FORTH IN LINES 150 THROUGH 173 WITHIN THE INSPECTION AND DUE DILIGENCE PERIOD SHALL BE DEEMED AS ACCEPTANCE BY THE BUYER OF THE PROPERTY'S CURRENT CONDITION.

Lines 150 through 173 basically say all the different things the buyer can inspect with two options if the buyer is not satisfied with the condition:

Option 1: terminate agreement in writing
Option 2: indicate deficiencies and desired remedies in writing