Need to cancel my new house purchase...Am I screwed?

[OCMerrill]

Thanks, that is a good idea. I was hoping to really get into the community there as well.
I don't think you need to build a home to do that. Just park your boat in the channel and you belong? (as long as your on ***boat)!
Also...
This may look to you as a set back right now but you just never know what door will open down the line.

[Invisible Sun]

Just an update:
The doctor wouldn't write me a letter to give to the builder without a full diagnosis in my condition. However, the sales rep called me and said to just send her an email stating that I wanted to cancel, and the reason for the cancellation. I asked her if she had some bites on the property, and she told me that she's got a lot of people ready to move on it once she gets a letter from me. I asked her about the earnest money, and she told me it wouldn't be a problem due to the popularity of that particular lot. They stand to make about an extra $50K now, so the $5k to me is a drop in the bucket I'm sure. Well, it looks like everything is working out fine. Thanks for the support!
S

[socalmoney]

Even if you do loose your 5K, getting out now is the best thing. Better than loosing 30-40% on your new home in the next 4 years. Get a new job going and come back an buy for less a few years from now. Now is the time to have cash in your pocket. Your doing the right thing.