Seller Backing Out of Purchase Agreement

[nimegrrrrrrr]

My question involves real estate located in the State of Louisiana.

Situation:

The weekend before Thanksgiving I found the home I wanted to purchase. My realtor and the sellers' realtor began negotiating. After about 2 weeks (December 4th) I finally received the counteroffer from the sellers I was willing to accept. Due to receiving the counteroffer through e-mail so late in the evening on Thursday, I did not see it until Friday, December 5th. My realtor was going out of town the coming weekend, so I did not sign and send the purchase agreement back until Monday, December 8th in the morning. I wrote the deposit check to hold the purchase that evening and sent it in the mail the following morning (December 9th). In the mean time, I had begun talks with the bank. I visited the bank where I was getting the loan from on December 5th and sign the loan application (and paid the associated fee) on Wednesday, December 10th. After I signed the loan application at the bank, I found out the sellers no longer wanted to sell their home. The family selling the home, the dad lost his job in Michigan. His job in Michigan was their reason for moving. They have drafted up a cancellation agreement, but I do not want to sign it. The only way I am willing to sign it is if they agree to reimburse me the $200 for the loan application and $1000 for a months rent. I am moving to Louisiana from Ohio for a new job. The owners of this home are technically making me homeless with less than one month to find a new place to live before I start work. I do not want to make the family homeless, but I do not want to be left out the dry in this deal. What are my legal rights as the buyer??????

[LawResearcherMissy]

What are my legal rights as the buyer??

What does your purchase contract say about cancellation?

When I bought my house, there was a clause explaining what would happen if either party wanted out by a certain date, and another explaining that the contract was irrevocable after that date.

I'm given to understand that these contracts vary.

[nimegrrrrrrr]

There was no clause for them to be allowed to back out of the purchase agreement.

[LawResearcherMissy]

You need to consult with a local real estate attorney. First consultation is usually free, and you can get a referral here.