Can a contract to buy and sell residential real estate be terminated by the seller if the seller does not want to sell?

Can a contract to buy and sell residential real estate be terminated by the seller if the seller does not want to sell?

The contract was signed 2/14. Seller has experienced sudden hardship and selling the home is not financially viable. Can the seller terminate the contract? Inspection and appraisal has not been performed yet.

Asked on February 16, 2012 under Real Estate Law, Colorado

Answers:

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