Buyer Backing Out No Good reason

[S.Cook]

What is the name of your state? NC

We accepted 5K LESS than another offer, ( house appraised 218K, we had 210K offer, and Accepted 205K ) simply because this buyer would let us remain in the home until spring.
The only Contingency was he sell his house to buy ours.
We have a Current Inspection report ( nothing wrong ) and a Current appraisal ( we ACCEPTED 13K LESS than the appraisal- just so we could stay.
Buyer called, said "he thinks it may be too far to drive to work" and "he thinks the 1560 sq ft , may be too small"..
welllllllll.... we havent MOVED the darn place any further than when he looked at it, and it didn't get any SMALLER than when he looked at it either.
He toured the home TWICE, and then bugged us for 3 weeks to Accept his offer- which we did.. turning the other HIGHER offer down, so we could stay till spring..
can we FORCE him to buy? can we sue for the difference in what we were offered - and then accepted.. ? the other people have since found something else..
meantime - we have lost 2 MOS of selling this house, and we already have another property.. so we are paying Double Mortgages..
Seems like a pretty lame excuse to me.. I think he found something else ( another property ) he wants more.. and just wants to back out.. IDeas anyone?? HELP !!

 

[BradleyS]

First, talk to your real estate agent. If your not satisfied then consult with an attorney that primarily deals with "real estate contracts." You don't want a pediatrician to conduct brain surgery.

Look up the word "specific performance" in a legal dictionary. It relates to your situation.

My opinion, as a real estate broker in Kansas:

It's either going to be extremely difficult or costly for you to "force" this buyer to execute the contract. Buyer's come up with creative excuses to terminate/void contracts. Hopefully there is earnest money. Talk with your agent and/or call the other interested buyer's and get your house sold as soon as possible.

 

[seniorjudge]

Forget this clown and get your real estate agent on the stick to find you another buyer.

 

[HomeGuru]

Forget this clown and get your real estate agent on the stick to find you another buyer.

**A: if he has a real estate agent, I would say to also forget that clown too. Never accept a contract from a Buyer with a contingency on the sale of their home unless there is a kick-out clause terminating the contract if another offer comes in without the sale of home contingency; the Buyer is given 48 hours to remove the contingency and does not.