Newsflash: Our Agreement to Lease offer was accepted, can we still back out? (CA)

Friends and I recently put an offer in on an apartment in Toronto. We signed the agreement to lease offer and sent it in through our realtor. They eventually accepted it and are awaiting our deposit checks. After they accepted, we had a bit of a change of heart and aren’t really interested in the place any more. Our realtor said that we are locked in and need to drop off the deposit cheques. Are we legally-binded to provide them with security cheques or can we still walk away?I’m confused because under our realtor’s counsel, we put in two offers to two different places. What I don’t get is what would happen if both offers got accepted?

Read more at https://www.reddit.com/r/RealEstate/comments/6qc6yv/our_agreement_to_lease_offer_was_accepted_can_we/?utm_source=ifttt

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