Cannot close the contract due to seller; what happens now?

[Sarp Ka]

Hello there,

I've been under contract and originally closing date was 45 days. Unfortunately seller's lien has some issues and this is keep getting delayed. The contract has passed all the contingencies that I've put (inspection + loan). So there's nothing on my side. This property is in FL so I had to put 10% down for earnest money.

The problem here is now, due to mortgage rates increasing, the lock on the offer has been expired. And the lender is charging me per day to keep the interest rate. This is costing me significant money.

My question is, how do I proceed in this case. Can I cancel, if the property cannot be closed by the last addendum date? If so, would I be able to get my earnest money back?

Also if the lender also states that they can no longer extend the loan, would I have any chance for this contract to be cancelled as I don't want to proceed with higher interest rates.

I'm getting opinion here because it's in the lenders/realtors interest to close this property rather than cancel it.