For various reasons, homeowners will attempt to bail out on a pending sale. Whether it's just second thoughts, changes to their situation, or they think they might be able to hold out a while longer and re-list the home when the market improves, this can be a maddening development to a prospective homebuyer.
When determining the way forward when faced with this situation, it's important to consider how dead set you are on purchasing that particular home. Litigation can be expensive, and the homeowner can lay several traps for you along the way. The prospect of a legal battle over a property that is literally the home of your opponent can be unpleasant - if you win you may not find it in the state you expected. More on these traps in Part II.