Did buyer default due to stated closing date?

Question

Offer to purchase has closing date specified, with a financing contingency that states buyer to obtain loan commitment within 14 days of removal of home sale contingency. Buyer did not sell home which was overpriced for area and market by stated closing date. Is seller stuck with expenses incurred due to expected close?

Answer 1

This question can't be answered by any knowledgeable and responsible party without:

1) Seeing the entire contract

2) Being qualified to practice real estate in your area

You should talk with a local, reputable realtor or attorney in your area.  It would probably take less than 10 minutes to figure out the answer to your question.

Answer 2

The buyer had a home sale contigency to escape the contract and that part wasn't satisfied, so most likely you are stuck with the expenses.  If you knew their home was overpriced, you shouldn't have entered into this contract or if you did, spent a penny trying to make it work.

Where is your Realtor in all this?