Backup bidder..now what?

[Bill P.]

Hi, 

I recently bod on property and DID NOT win the bid and someone else won and Reserve Met by them......Few days down the line they backout and company calld me and explain the situation to e as see they wantes to see if I'm still interested.

I signed the physical papers, sent EM & proof....Meanwhile I found another deal and want to cancel out of this...

Can I easily do that ? Would seller come back to me or previous bidder?...who's at fault me or previous bidder? Or both?