Can I get out of a real estate contract as the buyer?

Question Details: I put in an offer to buy a house as a cash offer. The realtor later called me to say that my offer was accepted and that we were in contract. However, after some thought and talking to the previous owner and finding out that the house has issues and really needs to be torn down, I decided that I no longer want to buy the house. Can I get out of the contract?

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