Need help! Seller wants to back out of signed PA

[Tyler Shoaf]

Hello BP Community,

I have recently put a property under contract over the weekend here in Indianapolis, Indiana. The Title Company just began the title search earlier today. I'm not sure if the owners can legally back out or not but they said they contacted a realtor and hes saying that in the state of Indiana they have 72 hours to cancel it if they want to. Does anybody who's done business in the Indiana market know how true or false this actually is? Any help is greatly appreciated! 

Thanks,

Tyler