Can a Seller back out of a contract?

[Kathy Lowery]

I've been in contract to purchase a single family home for almost 2 years (numerous extensions). Now the seller wants to back out (refuses to extend).  Do I have any rights at all in this case? My realtor states since my last extension expired, technically I'm not in contract anymore, and would like me to sign to the cancellation.

I don't want to sign the cancellation.   The extensions are due to the seller having trouble getting a lien release (they state is already paid). Its' the government so I know that it can be a slow process, and this all happened around COVID, but 2 years is excessive.  To add even more confusion, the seller has moved out of the country/US.

The seller states they now want to rent out the property.  I believe they want to sell it at a higher price now that value has gone up over the last 2 years.  I'm at a lost on what to do but I am in no hurry to get the earnest money back since I've waited so long and wasted so much time on this deal.  

Any insight would be greatly appreciated.  Thanks in advance!!!