Hi ...
I am not sure I fully understand the situation, it seems that there are no Realtors involved. Am I right?
As you are not talking about your Realtor and you are not talking about the Buyers' Realtor.

And I also do not hear anything about a real estate attorney/s.... Either one of them The Realtor who listed your home, your real estate attorney who would look over the contract, could clarify the situation for you!

Look at your contract, have a real estate attorney look it over if need be, and see what the clauses are
that will allow a buyer to get out of the contract.... (for example cannot get the loan would be one! Found something wrong during inspection would be another one)

You need to connect with a professional if you did not do the contract with a Realtor on your side and a real Estate Attorney.

Good Luck to you!
Edith Karoline YourRealtor4Life!
Working always in the very BEST interest of her clients...
EdithSellsHomes@gmail.com

Are you working with a Realtor? If so, what was there reaction?

In Vermont, there are many ways for a buyer to terminate a contract but this does sound odd.

Give a call if you'd like to discuss.

Dan Cypress
Realtor®, EcoBroker®, MBA
RE/MAX North Professionals
875 Roosevelt Highway
Colchester, VT 05446
cell.802.598.6219
office.802.861.3262
fax.802.655.0500
http://www.RealEstateVT.com

See a Real Estate Attorney for Legal Advice.

It depends on what is written in the contract between you and the Buyer.

Again, see a Real Estate Attorney.

Best wishes,
Fred Griffin.

What has the listing agent or selling agent said about it????? They should have explained what was going on to you. I have never heard of such a thing and wondering how you spoke to the buyers lender? if they had a mortgage, finance contingency, all they have to do is give them a denial. If not, then I would ask your agent or an attorney what to do about it. If they don't want, and there was a finance contingency, you are back on the market with the loan denial.

If there is a mortgage contingency in the contract, the lender could deny their loan application and they would be within their rights to back out of the contract. Check with an attorney to be sure.