Re: Sellers Backed Out One Day Before Closing
in reference to Mr K's first statement:
Not finding a mortgage to their liking for a subsequent purchase is not a valid justification them not closing on time. For the closing time issue to be enforceable, it would have to be due to something out of their control (unless specifically stated otherwise). Whether they have to rent or live in a tent is irrelevant unless specifically allowed for in the contract.
Hopefully their agent is pushing for his fee as it appears he has earned it, regardless of whether the sale is finalized or not. That often pushes a seller to complete the sale.
I am not an attorney and any advice is not to be construed as legal advice. You might even want to ignore my advice. Actually, there are plenty of real attorneys that you might want to ignore as well.