Newsflash: Seller refuse to close. Dragged us on for nearly 4 months.

So here’s a summary of my situation:I purchased a condo in early July. The seller was not ready to move out because their new place is not ready yet. So they pushed back the escrow closing date to Oct 13th 2017. We agreed and signed a purchase agreement stating that. They did not have a contingency to move out before selling.Their new property was delayed multiple times, from October 13 to mid November, and then to Dec 20th. They kept promising us that it will be finished soon.In the mean time, we went ahead and removed all contingencies on the contract: inspection, appraisal, loan approval, etc. Everything was done and signed in a timely manner on my end.About a week ago, the seller claims that they are cancelling their new house and that they are not going to sell their old place. Their excuse was that their new place was going to be delayed until next year and there is no definitive completion date. We told them that we could wait and that they can pay rent after closing of escrow. But they did not accept. We told them that they don’t have to pay rent until Dec 20th because we liked their property so much. They refused.What are my options at this point? I really like the condo that they were selling but it seems it will be a long battle if I want to force them out. So I’m simply thinking some compensation. After tomorrow, the seller should be in breach of contract since escrow was suppose to close on the 13th.The seller have been contacting us asking us how much compensation we want. We are still calculating but we’ve figured $15,000 to $20,000 for everything including any fees we’ve paid. However, I am not going to sign the cancellation by the escrow. I will wait until after tomorrow because then I will have more leverage. In retrospect, what we are asking is very low since a similar property today will cost around $380,000-400,000 (Seller accepted our offer of $365,000). The property is in Baldwin Park, CA so it is a very hot market here. They never told us they’ve decided to cancel until a week ago. Is what we’re asking fair since they dragged us on for so long?Do you think what I’m asking is fair? Should it be more/less?Any advise would be greatly appreciated.



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