Getting out of a contract?

Check the contingencies. If there is financing contingency, declare to the bank that he lost his job. The bank may not issue mortgage. Of course, get the advice from a lawyer.

That's what I told him, he's going to contact his lawyer we were talking and maybe cause he hasn't received the signed contract from the seller nor has his board packet been submitted he may have a small window to jump off and still get his deposit back.

I am not a lawyer, so have his lawyer verify this, but time is of the essense I believe.

In contract law, there is a notion of "offer and acceptance":

http://en.m.wikipedia.org/wiki/Offer_and_acceptance

By sending in a signed contract, your friend has made an offer. However, because he has not yet received a countersigned copy back yet, this offer has not yet been accepted. Until it gets accepted (which receipt of a countersigned copy would be the most obvious form), there is no agreement and he has a right to revoke / withdraw his offer.

The logic behind this is as follows. The other side may or may not sign at this point, but your friend does not know. They may sign today, they may have already signed last week, they may sign next month. Without your friend's ability to revoke until he had proper acceptance (e.g., receipt of a countersigned copy), he'd be in no-man's-land without any idea of whether he'd have the place or not or when.

Can any actual lawyers chime in? Like I said, have your own lawyer verify: I'm just a layman on the topic who had to learn it at some point. A potential LL's representative was being an asshole and not giving back a countersigned copy of the lease promptly despite saying he would in some stupid power play going on in his head, so I told him to fuck off and revoked my lease offer as I didn't know if I'd have the place or not. I found another place, his place went empty for another two months as a result. Idiot.

has the deposit check been cashed? If not try to stop payment asap

Deposit checks are usually certified and therefore not cancelable. Possession is 9/10ths of the law and all, but a signed contract with no check is of much higher standing than an unsigned contract with a check.

most deposit checks that i've dealt with were regular checks. i'd definitely try to put a stop payment if it has not been cashed as of yet.

The offer may be rescinded any time prior to acceptance by the other party.

My deposit check was not certified but it was deposited into escrow immediately. How long has the other side had the check?

Happy to report my friend is going with his first choice,after spending time talking with neighbors of the second building there seems to be many issues with management company.

Great fire drill!