So - just an interesting aside about "losing your deposit" - when our home was up for sale up north, we had the same situation. A buyer wanted to pull out a couple weeks before closing, because it turned out he didn't qualify for the mortgage that he claimed he had pre-approved. We had the right to keep the deposit. But then their lawyer informed us that he would sue us for the deposit, which was in escrow. And we wouldn't be allowed to re-list the house for sale until the courts decided on the suit. So then WE had to decide if it was worth several months or even possibly years of paying mortgage on a home we no longer could afford to live in, because the deposit on a purchase was stuck in escrow - or if we'd just give the guy his deposit back and carry on with our lives.
So we ended up giving the guy his deposit back. We hated that. But if the potential buyer wants to play games, he COULD tie up the sale of the property with a lawsuit, even if he signed his right away when he made the offer.
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