Loss of brake pedal: This condition is usually a result of brake fluid leakage due to failure of a brake hose or a rusted metal brake line, a worn wheel cylinder or brake caliper, or a worn master cylinder. A simple once over of the system will reveal what's going on.
If you have questions about a specific purchase, it would be best to speak to an attorney who could inform you of your legal options. While there are laws that allow for a 3-day right to cancel certain purchases, these laws are very specific and do not apply in a majority of consumer purchases.
That time frame can be shortened or run to the close of escrow in the contract. At the end of that time, if the buyer has not signed a release of contingencies, the seller can cancel the contract, after delivering to the buyer a Request for Buyer to Perform, giving the buyer 24 to 72 hours, typically, to perform. Buyers have options if a low appraisal was received. Releasing Loan Contingency.