Seller defaults on sale-Buyer looking to be equitable

[Brownfieldman]

What is the name of your state? NY

Seller enters into binding contract for sale of residence, buyer relies upon this and expends funds (attorney, inspection, mortgage). Closing to be in 60 days, and Seller given the right to stay for additional 60 days to find house. Getting ready to close and Seller shows up at our door crying that she can't sell her house and has not found anyplace to move to. Contract provides for specific performance, but small town and everyone knows each other, so to sue for the house may not be in Buyer's best interest.

Seller has offered to pay for Buyers out of pocket costs, but there are many more intangable costs (time, energy, opportunity costs)

Is there a fair resolution to this? Anyone with thoughts on this would be appreciated.

 

[maryks]

Find the seller an apt. and pry seller out of the house, citing this has nothing to do with individuals, but is business or if seller is a friend rent her a room in said house (problems, problems... figure this would be a lifetime arrangement... this person doesn't want to leave to start with it appears), or find another house to buy.

 

[HomeGuru]

What is the name of your state? NY

Seller enters into binding contract for sale of residence, buyer relies upon this and expends funds (attorney, inspection, mortgage). Closing to be in 60 days, and Seller given the right to stay for additional 60 days to find house. Getting ready to close and Seller shows up at our door crying that she can't sell her house and has not found anyplace to move to. Contract provides for specific performance, but small town and everyone knows each other, so to sue for the house may not be in Buyer's best interest.

Seller has offered to pay for Buyers out of pocket costs, but there are many more intangable costs (time, energy, opportunity costs)

Is there a fair resolution to this? Anyone with thoughts on this would be appreciated.

**A: what is it worth to you to cancel? Take that figure and negotiate.