一般来说,当双方就房子的价钱谈好后会签一个合同。在那个合同里,应该有好几个副加条件:1)loan contingency: if the loan cannot be approved by certain date, the contract will be voided. 2) inspection contingency: the seller and the buyer should resolve all the inspection related problems by certain date. If not, the contract will be voided. To avoid that, both parties should sign the inspection contingency release form. .....
You are not officially under contract untill you signed all the release forms. Unless you did not have any contingency when you signed the initial sales contract, you could void the contract by not signing the release form.
Check carefully what you signed initially and go from there.