Legal Question in Real Estate Law in Massachusetts

You can seek to enforce the P&S and attempt to collect the buyers' deposit. They will not be able to close and will likely attempt to get the deposit back in a number of ways.

If you do not have an attorney assisting you at this stage, you should retain one now. If you decide to give them six weeks or less additional time, I would change the deposit to an option to extend and is forfeited it they do not close by a certain date. This term would require an attorney's assistance.

If you do not want to extend the closing time, then terminate the agreement and negotiate the return of the deposit.

If you have a current attorney, I recommend you contact that attorney for assistance.

If you want or need assistance feel free to call me.

I agree that it is time for you to retain counsel, at the very least to provide you with an opinion as to whether you are on firm ground to retain their deposits. You do not need to extend. If the buyer cannot perform, and is not entitled to back out of the deal under the parties' contract, then you are entitled to keep their deposits as your damages. Please feel free to contact our office should you have any further questions.