Has anyone ever had to sue for specific performance when a seller won't sell?!

[Account Closed]

I have a signed contract to purchase a property to fix and flip. The first week under contract the seller asks if I will pay $6,000 now and take it off the closing price to help get the tenants out of the property by the closing date. I said: NO!!!

About a week later my title company tells me that the seller's payoff amounts are about $20,000 higher than our contract price. The seller is saying he can't make up the difference and is looking into a short sale...or raising funds to make up the difference.

The bottom line here is this deal seems very unlikely to close. Should I look into legal options or just walk away from the deal?

This deal seemed to have a big profit margin but I don't want to waste more time dealing with it when it appears to be a situation where you can't get blood from a stone...the seller appears to be heading toward bankruptcy.

I'm leaning toward finding something else and walking away from the deal. 

[Bill B.]

You’re saying you’re not willing to only make $80k? If there’s a $100k profit and you can get the deal by paying an extra $20k, try to survive only making $80k. Or take the loss and move on if it’s not worth it for $80k.