Seller Financing Fell Thru, now I can’t close on date as planned

[Pearlita Gaskin]

So I am in the process of buying a house in Iowa. The seller agreed to my offer and is also looking for a new house to move their big family into while I’m under contract with their current house.

For whatever reason, their financing fell through on the new house the seller is pursuing, which means that I may have to move out my closing date to accommodate the sellers closing on their new house. But I do not want to move my closing date as I have plans prior to moving in that I need to do. I’m staying in a rental and I want to fix up the house before my lease ends in July.

Should I just continue to close regardless of their lending dilemma or negotiate a way to make this work out in my favor? I was thinking about asking for a discount to the purchase price in some way. And possibly renting out the house back to them until they can buy their new house like they wanted.