Can a seller terminate a real estate contract 1 days prior

[Sergiu Spinu]

Hello

I just got a call from my agent that the seller will back up because the purchase price is too low....

We sign all documents 1 month ago.I did all inspection and earnest money was given to the seller...I was prepare for closing tomorrow and here you are surprise....by the way forgot to mention that it's a Foreclosure Property

What do you think guys>?

Thank you