Seller took second offer while under contract

[Ryan Magnano]

Hey, everyone.
I'm buying my first property. I got the property under contract. I had a 45 day contingency to secure financing. I'm in Florida and the contract was a stand FAR/BAR contract. I'm a Realtor and the seller is nonlicensed but listed the property on the MLS through a flat fee company. Shortly after going under contract my financing fell through. I told the buyer that my financing fell through, and asked if he was open to owner financing. He said no, and I told him that I would be reapplying for another loan, and even if I didn't get approved I would still close in time with a private loan.

He accepted another offer a couple of days ago, even though I told him I would still close on the property and that our contract was still valid.

Am I still able to demand that the seller perform? What happens if he doesn't? Just wondering where this will go from here.

I'll be calling my lawyer on Monday, but in the meantime I wanted to hear some opinions and get some discussion going.

[Wayne Brooks]

You’re an agent, you should know this....read paragraphs 15 and 16 I believe it is.