Real estate always changes based on local laws, job and population growth or decline, and the current case of the market.

Declining inventory of affordable housing are preventing first time homebuyers from purchasing and pushing low income tenets out of city. 

We had to decline due to my husband’s medical status, the short notice and the cost of the move (no concessions were offered).

Can I still decline and just say that I want to back out anyway without penalty/risk of losing me earnest money?

Should I decline or move forward.

The strike price can follow the declining principal balance.

I would let them know that did not pass your screening and you have to decline and keep looking for a better tenant.

The appraiser explained appraised values had declined and I would be given a "quick sale" number (which was still 2X what I had paid for the house a decade earlier).The same type of appraisal inflation occurred during the real estate bubble of the 2000s leading up to the Financial Crisis of 2008 (The appraisal bubble: In run up to real estate bust, lenders pushed appraisers to inflate values).

However, If it is for your son Check and see with an attorney if you decline to inherit it and let it it go to your son who I presume will be in a lower tax bracket. 

If they decline to accept post it on the door and take a photo of it.