We are buying a home without contigencies and the buyer refuses to close because her buy fell thru. What can d

Answer 1

I'm going to assume that you meant seller refuses to close and this is not a rare event at all. Usually however it is the buyer that has a sale fail and cannot close with the seller. Depending upon the disclosures made and your purchase agreement stipulations regarding closing date you likely have a case of specific performance against the seller. That means should you not chose close anyway and do a seller short term lease back, ( I dont recommend this btw, but point it out as thats a typical remedy ) You can sue the seller for failing to honor the agreed to contract to purchase. A delay like this can cost you your rate lock on your loan, escrow pro rates will need re calculated and other issues none of which are your fault. Due to that there is remedy available to a buyer when a seller fails to close. Ask your agent but dont expect a miracle there, ask escrow for their opinion. They cannot advise you but can as a neutral 3rd party explain how this gets solved usually. They arent allowed to give direct advice regarding issues between the 2 parties in a transaction, but can elaborate on examples from past closings.
The sellers best solution in my opinion would be to close your deal on time and rent until they can close another property. This will save them an expensive lawsuit for specific performance, the agents are entitled to their commissions also. The brokerage fees, your settlement, their other costs associated with failing to close added up are much more than paying a month to month rental and storage until they buy a home. They needent be upset with you either over this, you did everything expected from a buyer. They likely had the same agent and perhaps that agent lost their other deal.

Answer 2

Consider whether an alternative property might be a better choice.

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