Real Estate Law
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Usually, real estate contracts have contingencies in them.....the most common contingencies are the buyer obtaining financing and the property appraising for at least the purchase price. There could also be other contingencies, but you'd need to review your contract to see.
If there are no other contingencies, then the only way you could avoid losing the deposit/earnest money is if the seller breaches the contract for some reason.
However, if there is no such breach by the seller, then you very well could lose the deposit/earnest money if you don't go through with the sale.
As for the power lines, unless they weren't up when you looked at the house/entered into the contract, and unless the seller concealed their existence, it likely isn't a justified reason to cancel without penalty.
Usually, the only way you can get around entering into a contract absent a breach or an available contingency is if the seller misrepresented something to you or intentionally failed to disclose a material issue.
If that's not the case, then your only option at that point would be to ask the seller to let you out of the contract....which may or may not result in you getting out of the deal with your money.
Thanks for your question and please let me know if you need anything further.