Advice: Can we pull out of contract as sellers? California

[Account Closed]

Ok, we are waiting to hear from an attorney but would like to hear from others.  We're in California

Husband and I accepted an offer on a SFR we own. Terms as follows

1. Purchase price 420K 

2. Buyer t pay $5K above appraised value up to agreed purchase price

Purpose of sell is a 1031 exchange.  We were overly optimistic about finding a replacement home given lack of inventory in our area, higher purchase costs, remodeling done on previous home and agent+ closing fees.  Lesson learned:  add a clause as seller that gives you a 'way out' when not 100% sure of exchange.

Appraisal came back at 410K, making the deal 415K.  Can we use this as a 'way out'? since we didn't get our asking price?  I've been reading that it's possible and we can opt to 'not negotiate'.  I understand we'll have to pay the deposit+ appraisal+ staging fees and possibly other costs.

Thank you in advance!!