Can a seller back out between contract and assignment closing on a land deal
Happened to me on a 14-acre parcel in Mayes County, Oklahoma last spring. Had the seller under contract at 31k, found a buyer at 44k, set the double close for three weeks out, and on day 16 the seller called and said he changed his mind. No buyer pressure, no title issue, just cold feet. I had maybe 400 in due diligence costs at that point and a buyer I had to call and un-sell. Contract had a specific performance clause but I was not about to sue a 70-year-old man over a vacant field. Walked. What I want to know is whether anyone has actually enforced a land purchase contract against a backing seller, or whether specific performance language in these deals is mostly decorative.