better have a lawyer read the lease to see if you have any options available to void the lease and get out even if you loose your Earnest monies
next stop would be to either try and flip right away by asking the same or even less on the place
rent it out hopefully to cover the note until you sell it
On the Purchase Agreement, you should always put for additional details: Subject upon financing. Then if you want to back out, your broker can say he is not financing you and you don't have to buy it. Other than that, you're stuck with it until it sells.
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