Recourse for Someone Backing Out of a Contract

[Account Closed]

What to do when a buyer is trying to back out on a deal, but you have a nonrefundable down payment and signed contract from them?

[JD Martin]

Essentially you have no recourse. You may be able to keep the earnest money, though I wouldn't really count on that. For the most part, if you're talking about a paltry sum of EM, authorities (RE Associations/courts/etc) probably wouldn't force it to be returned if the buyer just changed his/her mind. If it's a large sum, or there's some reason that sounds legitimate, the money will probably have to go back.

Needing to close pretty badly is a seller's problem. If the seller can prove he/she lost another sale because the property was locked up by the non-performing buyer, he/she can try suing them for damages, but they are unlikely to win. 

Deals go south all the time. Just suck it up and move on. Everyone will waste a lot of time, effort and money trying to force something that at least 50% of the parties don't want.