Good afternoon, my fiancé and I recently signed (yesterday)a purchase agreement a town house for $129,900. It has yet to be appraised but it was last sold in '09 for & 89,000 and the city website has a value of $110,000. They are asking for the $1,500 earnest check today. Is it still considered a legally binding contract if that hasn't been dropped off yet? Or is there a way of withdrawing our offer as we possibly would like to explore our options further.