Seller illegally backing out of contract. Help!

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zver76

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Hello everyone, I am a resident of Columbus, OH, and my wife and I have been on the hunt for a house since July sometime. It's been a long, long search, but after looking through probably 500 listings and personally walking through some thirty houses, we finally found the house of our dreams, and it was within our price range. We put in an offer, they accepted, and we signed all the documents getting ready for underwriting, closing, etc.

Now, some two and half weeks later, after signing the contract and agreeing to everything, they are refusing to sell us the house. We have put in our thirty day's notice with our apartment complex, and will literally be homeless in less than two weeks.

We were scheduled to close on the 30th of this month. My realtor says we can sue them, because we upheld every point of the contract perfectly, and it seems like we would have a completely airtight case.

So here (finally) is my question: is it at all possible for these people to declare bankruptcy and still keep their house? I mean, if we sue them can they do that and get away scot free? My wife is pregnant and scheduled to deliver in the middle of next month, and we are literally headed to living on the street if we cannot get these people to sell the house they signed a contract to sell. What options would a seller like that have in a court case?
 
This is an Irish site so for the best advice you'll probably need to find a website closer to home.:)
 
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