I live in Tennessee and am on the "seller" end of a situation. A couple put a contract on our home 3 months ago with no contingency to purchase our home. They've been approve for the loan without them selling their current home. (I specifically said NO contingencies) It is now 6 days before closing and they is now trying to back out. They stated it was "because they don't want 2 mortgages". I explained they signed the contract with NO contingencies. They said they know but thought they'd sell it in time anyway.
Is there anything we can do beside them forfeiting their $1,000 earnest monies? (Big whoop, right?) We will lose the home we currently have a contract on and the elderly lady (seller) has put down $$ on an apartment.