I can recommend a great agent through the REMAX referral network.
Sounds like trouble brewing to me. Make sure you talk to a real estate attorney about all the possible scenarios before you proceed with the sale.
Here are the stats for going it alone.For Sale By Owner (FSBO) StatisticsFSBOs accounted for 9% of home sales in 2013. The typical FSBO home sold for $184,000 compared to $230,000 for agent-assisted home sales.FSBO methods used to market home: Yard sign: 36%Friends, relatives, or neighbors: 28%Online classified advertisements: 16%Open house: 14%For-sale-by-owner websites: 13%Social networking websites (e.g. Facebook, Twitter, etc.): 7%Multiple Listing Service (MLS) website: 7%Print newspaper advertisement: 7%Direct mail (flyers, postcards, etc.): 1%Video: 1%Other: 2%None: Did not actively market home: 32%Most difficult tasks for FSBO sellers: Understanding and performing paperwork: 18%Getting the right price: 13%Preparing/fixing up home for sale: 12%Helping buyer obtain financing: 3%Attracting potential buyers: 3%Selling within the planned length of time: 7%Having enough time to devote to all aspects of the sale: 6%Source: 2013 National Association of REALTORS® Profile of Home Buyers and Sellers
It is all about having an experienced Realtor providing you with a detailed market analysis. They typically do this for free and with no obligation.
We have a professional take photos and floorplans for the MLS and for all other marketing materials. We also use a system that automatically generates a property website and blasts it out to virtually every real estate oriented portal. When a great marketing plan is not working then it is price. It needs to be priced properly from the beginning or you will likely get less later with a stigmatized listing.
You need a real estate attorney.
Just as an example. If you are asking $500 a buyer can write up an offer for $508 with seller contributions to buyers prepaids and escrows of $8000. As long as it appraises you are still getting full price. I have seen this many times.
Did your buyers agent do a market analysis for you on the property? If it is overpriced then maybe the seller is unreasonable. That is my guess. If the property was worth anywhere near the asking price then it would probably be sold right now. I think with the lengthy time on market and multiple attempts by you to buy it..... it's overpriced and seller will just sit on it. I suggest walking away.
"The day after our offer was accepted" This is the key part. You must have an inspection contingency and a mortgage contingency in your offer. If your mortgage lender tells you you no longer qualify then you back out based upon the mortgage contingency clause. Have your buyers agent print out a deposit release form from trueforms, sign it and send it to the sellers agent. If they refuse to give back the deposit then you will need to go through your attorney possibly putting a lien on their property preventing them from selling without settling with you.
They are posted in the newspaper. You can also get them from banker and tradesman.