Specific Performance- Buyer Backing out

[Mark Kenneth]

Hey Guys !!! Less than a week to go on my short sale , Buyer seems to be backing out. He's out of pocket of at least 6 grand. 1000 deposit, appraisal,title work, lawyer fees and a huge extension fee the bank made us pay.
Not sure how this works with a planned double closing. I only had equitable title with the seller. We had two contracts with buyer. One from me. An one from my seller in case because we ran into seasoning issues .
He's tied me up for a month where I turned down 7 other offers. Now , I might have to try to get another extension from the bank. Dont think they will grant this one. Lost profit of close to 70 grand and a family being foreclosed on house which they;ve lived for over 50 years. Does anyone think there is a case of pursuing "specific performance".

Thanks guys

[Scott Hubbard]

It is a shame. Your Earnest money was only $1000.00? That's crazy!! I get 3% minimum!!

Your not going to effect performance on your contract because doing so will not help your homeowner or yourself to get a sale. No court or attorney will force someone to purchase a home. If your contract calls for liquidated damages, you could sue for non-performance, but again, it is not worthwhile.