The real answer is can you find a judge that will force your buyer to perform? What are your damages? Your damages will be the value of the lot at the time of your purchase agreement in 2005 vs what you can sell the lot for today. If that amount is enough to take it to civil court, think about a civil suit. Civil court is setup up to get you to settle with the other party before getting to court. The percentage is like 80-90% of all civil suits settle before trial.

You will file the suit, the defendant will answer, after that lengthy process you will go into discovery (interrogatories, production of documents & depositions) after that lengthy process you will be forced into mandatory mediation and the mediator will keep you there all day till you are worn out and settle. That is why so many case settle before trial.

We can get all technical with the contracts, but the reality of a civil suit is what I outlined above. The money involved to get as far as I listed above is substantial.

You need to consult a real estate attorney and see if you want to take this down the path of litigation or cut your losses and move on.

I do no think the buyer is obligated to purchase the property since the contract is over three or four years old. You state that "now your final lot is due for sale", was there something that needed to be resolved for you to sell the lot? If that was written in the contract and closing date was open, you may have a case. Your best solution would be to seek legal advice from a real estate attorney. You will have to consider if it is worth your time and money.

According to your information, the contract was created in 2005. The contract may already be voidable due to the length of time. It all depends on the express written contract. You did not disclose enough detail yet. You can consult a Real Estate Attorney and they will be able to help you. There are many buyers looking for property. You may put the land back on the market and sell it. Then, you can decide if the contracted price and the amount of the actual sale of the property would warrant paying legal fees to recover lost money or damages. Did you have a liquidated damages clause? If you would like more information, please don't hesitate to call or email.

There are a few items that would change the answer. First, have all the inspection time frame expired? Second, is the purchase subject to the buyer obtaining a loan? Have contingencies been removed or signed off. If all inspection time frame have expired, contingencies have been signed off and property was appraised at purchase price then the buyer would have to buy at agreed amount. It sounds like this may have been a very long escrow and property should have had contingencies removed and property appraised and the agreed upon price should stand. Good luck!

Has the buyer removed their contingencies?