A potential buyer signs a contract with a seller but then decides not to buy. The seller may sue the potential buyer for specific performance or damages unless the contract was:

A bilateral contract involves mutual obligations between the parties, meaning both the buyer and seller are bound to fulfill their respective duties. If a potential buyer in a bilateral contract decides not to buy, the seller can indeed sue for specific performance or damages due to the binding nature of the agreement.

An installment contract requires the buyer to make payments over time while gaining ownership of the property. If the buyer defaults by deciding not to complete the purchase, the seller has grounds to sue for specific performance or damages, as the buyer has committed to a series of payments under the contract terms.

A land contract, similar to an installment contract, obligates the buyer to purchase the property through scheduled payments. If a potential buyer fails to fulfill the purchase, the seller retains the right to seek legal remedies, including specific performance or damages, due to the enforceable nature of the contract.