Wholesale Deal -- Seller Backing Out?

[Michael S.]

Hey guys, need some help! I put a home under contract on 10/19 for $30k and gave myself until 11/4 to close the deal. On 10/25 the seller said we are no longer selling our home to you, we are sick of you bringing people in to look at it (contract allows for lock box, contractors to come by, etc)

Today, 10/27, I am signing the assignment contract with a cash buyer ready to close by Tuesday for $34k. I cannot get a hold of the seller (or my lock box for that matter). What do I do? I was up front with the investor-buyer about the situation -- should I ask for $1k up front to buy my place in the contract, with the balance at closing (and let him deal with the seller)? Or should I take this to court? I don't see how this can work if the seller really won't talk to us anymore, but I do know that I have a legally binding contract. I have closed with these contracts already so I think they will stand up. Thanks!

[Michael S.]

Yeah George, the sellers reputation is shot considering they sold it to us for 30k and immediately began shopping it around for a higher bid. All the while of course, we are putting up handwritten signs all over the city advertising a home for sale. Get real.

My reputation is intact, believe me. I reviewed every line in the contract before getting it signed.