Getting out of a contract as a buyer

[Lana Friedland]

We signed a contract to purchase a propery from a turnkey company. After the inspection was done it took them a month just to find contractors to do the repairs. They are saying that the office is located 2 hours from the property, that's why it took so much time. Now we are concerned, since they are also property managers, how they will be able to manage that property. We have 20 days left before scheduled closing date. I doubt that it's enough time to make all repairs, get the appraisal and we get processed for a non-recourse loan (we are pre-approved). I was woundering if we can ask them to get out of the contract now  without loosing the deposit or should we wait until the scheduled closing date and hope that they will be late.