After Sandy, homes in contract were supposed to be re-inspected to remove any doubts about post Sandy condition.
Can you prove the seller lost their job? What does your attorney say about all of this?
Call Darren Sheehan, Esq. for a consultation. 631-659-3377 email@example.com. He will provide you with the information you need.
If the buyer lost their job most likly they will no longer qualify for.a loan.
Many states now limit the sellers losses to the Earnest money deposit the potential buyer put up in the first.place
my plus.any sdditiinal.funds the seller spent on fixing the items requested in tge inspection report.
However,.collecting any more than the EMD is not likely.
Best of luck
My non-legal opinion: It's probably not worth the trouble. You may find it easier to get another buyer at a higher price.
A preponderance of real estate contracts have provisions where the buyer can break the contract if the inspection comes back with major problems, or because they can't sell their existing home, there can be any number of reasons, but in general, the contingency for the breaking of the contract on either side, buyer or seller, should be written into the purchase agreement at the time the buyer is making the offer prior to the seller accepting the offer.
Any offer is only valid and accepted at the time it is actually signed, and not before it is signed. So verbal agreements are not enforceable in a court of law.