Seller Negotiating Strategy

[Jay Levy]

I recently went under contract on a property for $400,000 (no financing) in a very hot market. The seller was asking $440,000 but they took our offer after being on the market for 3 days. We are near the end of the inspection period and we identified about $30k in repairs, but the buyer is holding firm. In fact before the inspector even left we got an email from the sellers broker that they won't budge on price. A few days later we sent thru our request and they wont budge. There are a few days left on the inspection period and the seller has twice asked us to send docs releasing them from the contract so they can proceed with another deal. They also keep claiming the have an open house planned. What does the BP community make of their signals?