sellers rights while in contract

if the house was supposed to be closed on on December 1st, and it is still not closed, and does not have a new set closing date, what are the sellers rights?

Can they back out of the deal?

Re: sellers rights while in contract

if the contract closing date was Dec 1st then the buyer has until at least Jan 1st if it says on or about (which is very standard). Once Jan 1st rolls around you then would need to send a time is of the essence letter which then give the buyer a drop dead date. If you back out before that all happens the buyer can sue you for damages ($$$$) or specific performance (basically sell me the house).

If you walk away from the deal with out giving the time is of the essence be prepared for legal consequences unless the buyer really doesn't want the house