Suits for Specific Performance
Can I sue a buyer who signed a purchase agreement. ?...Buyer paid Earnest Money, and he refuses to perform on Agreement, and now wants his Earnest Money Back.
Most Popular Reply
You can file suit, but you will be wasting your time. Think about it for half a second: do you really expect to obtain a court order compelling someone to buy a property they don't wish to buy? Typically, earnest money is considered liquidated damages in these situations. Move on. Find a new buyer.
Alternatively, suits for specific performance compelling someone to SELL their property can be successful.
The theory is that there're many buyers for a given property, but there may be only one "dream home" for a buyer. Hence you won't get a judge to order a purchase, but you may get a judge to order a sale.