Am I expected to absorb a loss?
Bava Metzia 49b
A man gave money for wine. He then heard that a royal officer wanted to take the wine; he said, "Give me back the money; I don't want the wine." The case came to Rav Chisda, who said, "Just as they enacted the requirement of taking the item as the last time for the seller to back out, so they enacted it for the buyer."
Rabbeinu Asher to Bava Metzia 4:13
One who backs out due to fear of losing everything is not even subject to a curse.
R' Moshe Isserles, Code of Jewish Law Choshen Mishpat 204:11
One should keep his word even without a formal transaction, only words. The sages are not pleased with one who backs out, buyer or seller, if the price remains static. If the price changes, there is not even bad faith involved... Some say that even with a fluctuating price one may not back out, and backing out is a display of bad faith; this appears to be correct.
