Reselling property back to seller prior to close?

[jasonelki]

What is the name of your state? Wisconsin

This is very odd, but here is the situation.
A house we were going to purchase had a significant fire(~50K) occur between offer acceptance and the closing date. We were still interested in the house but the seller still refuses to sign an amendment pushing back the closing date until repairs are completed. The fire happened roughly 4 months ago, and in that time my wife has taken a different job, so we are no longer interested in the home. That said, the seller had some things going on in her life where she needs to stay in the same small town, so she is looking to purchase another home as well. The house, when repaired, will be worth approx 20K more than before the fire, as it has all new windows and an entire new kitchen, all things that needed updating anyway. Is there anything illegal about inquiring the seller to "buy" us out of closing? I'm sure the realtor won't be interested in hearing this, but we will tell her and the seller that we are planning on going ahead with the closing and going to put the house back on the market to make a profit, but in reality, we are glad to be done with the property and the idiot seller. Throughout this process, I believe the seller regretted putting her home on the market, so this "plan" assumes she would like to have her house back. Not like this is relevant, but I think she started the fire on "accident".
Thanks for any advice.

[HomeGuru]

Originally Posted by jasonelki

What is the name of your state? Wisconsin

This is very odd, but here is the situation.
A house we were going to purchase had a significant fire(~50K) occur between offer acceptance and the closing date. We were still interested in the house but the seller still refuses to sign an amendment pushing back the closing date until repairs are completed. The fire happened roughly 4 months ago, and in that time my wife has taken a different job, so we are no longer interested in the home. That said, the seller had some things going on in her life where she needs to stay in the same small town, so she is looking to purchase another home as well. The house, when repaired, will be worth approx 20K more than before the fire, as it has all new windows and an entire new kitchen, all things that needed updating anyway. Is there anything illegal about inquiring the seller to "buy" us out of closing? I'm sure the realtor won't be interested in hearing this, but we will tell her and the seller that we are planning on going ahead with the closing and going to put the house back on the market to make a profit, but in reality, we are glad to be done with the property and the idiot seller. Throughout this process, I believe the seller regretted putting her home on the market, so this "plan" assumes she would like to have her house back. Not like this is relevant, but I think she started the fire on "accident".
Thanks for any advice.

**A: you can certainly renegotiate the deal, say she pays you to terminate.

[jasonelki]

Thanks for the response. I think the realtor involved will not want this to happen. Although I am going to try, it can't hurt at this point.