Seller want to no longer sell the house, options?

Hello, we had an offer accepted and entered escrow for house we want to purchase. Two hours later the seller directly called me to ask that they no longer wants to sell and want out.

Background. The seller had the house under contract with a different buyer for a week but that buyer backed out so they accepted our offer. Our offer for all cash and almost 50,000$ less the previous offer they had accepted.

I am myself selling my current house which was contingent on we securing a replacement property. We are are almost towards the end of our period to remove contingency for the house we are selling or back out of the deal.

What are our options? It doesn’t feel right to force the seller to sell if they don’t want to. At the same time i want to make sure the seller doesn’t want out only to accept a better offer they may have. The seller presented a sad story of why cant they move anymore, the hard part is that they changed there mind 2 hours after entering a contract with us. This is Southern California.

Suggestions?

submitted by /u/huzk27
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Hello, we had an offer accepted and entered escrow for house we want to purchase. Two hours later the seller directly called me to ask that they no longer wants to sell and want out. Background. The seller had the house under contract with a different buyer for a week but that buyer backed out so they accepted our offer. Our offer for all cash and almost 50,000$ less the previous offer they had accepted. I am myself selling my current house which was contingent on we securing a replacement property. We are are almost towards the end of our period to remove contingency for the house we are selling or back out of the deal. What are our options? It doesn’t feel right to force the seller to sell if they don’t want to. At the same time i want to make sure the seller doesn’t want out only to accept a better offer they may have. The seller presented a sad story of why cant they move anymore, the hard part is that they changed there mind 2 hours after entering a contract with us. This is Southern California. Suggestions? submitted by /u/huzk27 [link] [comments]

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