Should we sign the housing contract ASAP?

<p>Should we sign the on campus housing contract ASAP? the earlier we sign, the more chance we get into the community we want? or We just need to sign before the deadline and everyone will be considered equally no matter when they sign the contract?
Because I am still waiting for my appeal result. If I cancel my contract because the appeal is successful, how much I have to pay to the housing department? Thanks in advance~</p>