seller breach of contract -- please help!

[homebuyer]

We recently went into contract with hopes to move in 3 weeks, but the seller is backing out. We received a call from his realtor saying that there he has a pre-payment penalty on his loan and that he has nowhere to live (his house has been on the market for 7 months and he didn't consider all this?...yeah right). The following day the realtor calls back saying that he first thought he couldn't get a loan but now he might be able to get one so then he was still going to sell it. Then today we received a "cancellation of contract". Can the seller do this? What are my rights and options?

Please help.

[aprazma]

Do you have a fully executed contract? Are there any seller contingencies in the contract? If not, sue for specific performance (forcing the sale). Its not your fault he entered into a valid contract with you having those issues.

[La Jolla Real Estate]

Curious how this worked out for you homebuyer.

At any point were you in beach? Most real estate contracts are very buyer friendly and will protect you from this. Sounds like you should have been able to force the sale - aprazma is right.

Anyway, just interested to see if this worked out for you.

LJRE

[VinLacava]

I hope you get that figured out, it seems to me you got the short end of the stick. Its hard to tell if they were in the wrong without knowing exact details, but it definitely doesn't seem legit.