Hope that helps!
You may want to contact a Licensed Professional in your area to get a more definitive answer as to your state's requirements!
However...one little thing I will add here...... I addressed your question as if a seller was rejecting OFFERS!! If you are actually referring to a seller trying to walk from a CONTRACT... then that's a WHOLE NEW BALL GAME.... It's called SPECIFIC PERFORMANCE... Sellers in this case...have almost no right to back out w/out expecting un-wanted loss from their end! Check out in google... SPECIFIC PERFOMANCE
Were you under contract already? In other words, had you already completed the inspection negotiations and attorney review?
If so, it would be difficult for the seller to default without consent from all parties if all the contingencies had been removed. In fact, if this is the case, and you really want the home (and the hassle), you are in a position where you can bring a "specific performance lawsuit" to force the seller to complete the sale on the agreed-upon terms stipulated in the contract.
And because a contract is in place, your attorney could record a "lis pendens" against the title to ensure the seller does not attempt to sell to another buyer.
However, if this "seller's remorse" occured before the attorney review was completed and before conditions of the contract had been met, the seller can back out with no explanation, and you will get your earnest money deposit back.
More analysis is called for, but the reason for refusing a full price offer must first be known or at least suspected.
In all jurisdictions, a Contract = Offer + Acceptance, and in all real estate transactions, all contracts must be in writing owing to the Statute of Frauds.
Once there is acceptance, in writing, a legally binding contract has been formed and the buyer is entitled to certain remedies under contract law for breach by the seller, one of which is called specific performance and another of which is called restitution based on damages the buyer may incur from having relied upon the seller's acceptance.
Punitive damages are not a part of contract law. Breach of contract must be accompanied by tortious behavior in order for these to apply
You need to have someone look at the contract and know Pennsylvannia real estate law.
In most cases if the offer has not been accepted the seller is free to change their mind.
Once the sales contract is sign and accepted by all parties, it is more complex