Seller won’t release buyer from contract

[Julie Woo]

So my husband and I backed out of a buying contract 2 days ago on July 26. We offer cash with no contingencies. The sellers will not release us from the cancellation contract. It’s been over a month.  the sellers aren’t working with a realtor. They just paid some discounted realtor to help put their house on the market. Our realtor hasn’t helped in any way to get us out of the contract. The day we wanted out, they put the house back on the market and didn’t sign the contract. They accepted another off still didn’t release us. Now for some reason the 2nd buyers disappeared and is easily released from contract. Since we are still under contract the sellers still wants to move forward with closing date 9/10 (7 days from today). They are being petty, knowing we didn’t want to buy the house anymore 2 days after signing the contract and is dragging this on for way too long. I’ve had to pay for a lawyer ($500) to send over a letter to the sellers. We stated that we are willing to give them the $5,000 earnest money to let us walk away. They have till 4PM tomorrow to give us an answer. 

My question is, how often do sellers actually take the buyers to court? And can they force the buyers to buy the house? Who will the court side with? 

[Steve Morris]

"My question is, how often do sellers actually take the buyers to court? And can they force the buyers to buy the house? Who will the court side with? "

FIRST - ASK YOUR LAWYER FOR ADVICE.

I'd see what remedies your sales agreement offers and how handled.  Usual/custom in OR is damages limited to E/M and decided thru arbitration.

Does specific performance happen?  I guess so, but it's usually pretty rare, especially in purchases of SFRs.

Again, talk to your lawyer, but in 20 years have not heard of someone being forced to buy a SFR.

I would recommend next deal you get a broker or atty to review your forms used.