Can I back out offer not sign acceptance

[Monita Phillips]

Hi all first investment property, I put in cash offer on a multiple offer bid , they chose my bid. They disclosed multiple problems with property such as electric wiring spliced in some areas, water getting in box, termites activity small area, radon level 3, clogged drain down spout into concrete needs unclog, multiple other headaches. I did not sign as it was a verbal acceptance of offer new paperwork work to be sent to me today... must I sign? I am still allowed inspection of my own seems like not worth 31,000 plus repairs? My question can I back out at this point? Help please live in PA.

[Wayne Brooks]

Two easy ways to back out at this point:
1 If they have not signed the contract that you submitted, you may withdraw, in writing, any time prior to their acceptance.
2 If they send you a counter offer, revised contract, your original offer is now void, and you simply do not sign the new contract.