Seller trying to back out of contract

[Rural Juror]

What is the name of your state? Florida

My friend is buying a house; both parties signed a contract. A few days later the owner/seller cried that he should not have taken the offer, it was too low, that his mortgage payoff is higher than expected (he has one of those negative amortization loans). So they changed the contract, raised the purchase price by $6,000, my friend initialed the price, but the seller didn't initial... instead he re-lists the house in the MLS and tells everyone that he doesn't want to sell the house for that price anymore! He just decided on his own that he's going to re-advertise it for more money!

My friend and his real estate agent convinced the guy to ask his mortgage company to agree to short the payoff so they're doing their own appraisal, but it's taken 2 weeks already and no reply. If they don't agree to it, my friend is agreeing to pay the difference and make the guy sign notes and mortgages on his other 3 properties to pay him back.

But the guy is dragging his feet in an obvious effort to not go through with this deal.
My friend is at his wit's end because he can't turn back now, he's already got people to move into his current home. Also the interest rates are increasing and his new mortgage payment will go up. Closing was supposed to be May 31 according to contract, but they haven't even been able to do the mortgage appraisal yet!

What would be the best way to make this guy close? And fast!!!

[seniorjudge]

When you (buyer) made a counteroffer, the old contract was gone.

The seller didn't accept the counteroffer.

There is no contract.

The buyer should find another place.