Seller suing me for backing out

[Bryan Stocklas]

Hi guys, I recently went to buy a rental property and after inspections were done the house only had a 60amp panel which means I can not get homeowners insurance for it. Since I can’t get homeowners insurance I can’t get a loan for the property. In the contract it says it is contingent upon the buyer obtaining a mortgage, however the seller has already gotten his lawyer involved and has sent a letter to sue me. Has anyone had any similar issues with this? I am obviously going to get a lawyer but just curious on if anyone has dealt with this before. Thanks everyone