Contract Cancelation help

[Brendan Kortz]

9 days ago I got a property under contract. The neighborhood is worse than I thought and people aren’t all that interested. I told this to the seller and we agreed on lowering the price. I was just going to cancel the contract then find a buyer for the new price and then fill the contract out. (I should have done this before) but here’s the question/problems I’m having.

1. Title company said they’d work with wholesale deals and today I found out they don’t

2. My contract said I would send them a $10 EMD within 48 hours but I never sent that out (honestly wasn't aware and I didn't get anything from title company asking for it) so I'm on day 9 with no EMD sent to the title company would that mean the contract would be cancelled?

3. Does the contract automatically cancel after the 10 days because I never found a buyer? Or do I still need to send some type of document into the title company?

any type of info will be helpful! Thanks in advance.

[John Thedford]

risking $10 is a quite a challenge. Don't you think that that is going overboard. I feel sorry for any seller that trusts you. This is a perfect example of what is wrong with unlicensed brokers.