Good afternoon. The contract is a legally binding document. The Krauses cannot terminate the contract and sell it for a higher price. In that event, the Krauses would be in default, and Jud could file a lis pendens stopping any sale to another party. If Jud priced a wrong price, and both parties signed the contract, Jud would be bound unless Jud could prove there was an obvious mistake...such as typing $1,000,000 for a $100,000 house.
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