giving up earnest money does not mean you can automatically exit. Your contract lasted three months, the seller of course sues you for his damage. The worst scenario, you will be ordered to close the deal.
not understanding why you buy a property in flooding zone but with no idea how much you will pay for flood insurance. If you did not know this was a property in flooding zone and you had a buy agent before signing the contract, you can sue you agent later for any of your loss. also not understanding what is insurance transfer?