There is no time period that allows you to back out of a closed real estate sale. The 'three day period' that you may have heard about applies in only very limited circumstances, and this is not one of them. However, if there were irregularities in the transaction (fraud, etc.), there is always a chance that there might be grounds for recision (to unwind the deal). However, these are also quite rare.
You should have a licensed attorney who specializes in real estate review your situation.
The answer depends on your purchase agreement. There is no inherent right to cancel, at all.
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Absent some provable fraud, duress, or other extenuating circumstances, once you have closed, you cannot "back out."
NOTE: (1) I may be guessing and/or not even licensed in your state; (2) We have not established an attorney-client relationship; (3) Sometimes you get what you pay for; and (4) If you want to send me a gift, my favorite color is orange.
You can see an attorney with the documents to see if there is an escape clause or a defect in the transaction, but generally, once the deal is closed, it is closed. Seek counsel if you think you have an argument.
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