Closing Date expired on contract. Can i make a new offer?

[Ryan Sykes]

I signed a contract to buy a property “as is”, however, during the time between us signing the contract and closing, we learned that we should have offered much less, but we already signed the contract (we were also paying in cash). Now the closing date has passed and we have not closed on the property (no fault of our own) and we want to renegotiate. Can we renegotiate or back out of the contract? Or Is the contract null and void?

[Tom Gimer]

@Ryan Sykes Failing to close a non-contingent cash contract on the agreed settlement date is the definition of a breach.