Specific performance is often ordered on a seller who refuses to sell his/her property when under contract.
However, what if the buyer under contract refuses to PURCHASE the property, and there are no terms in the contract that allow him to do so, even if he/she can't find financing?
Can the buyer be sued for, and will a court order, specific performance?
Depends largely on the state in which this is happening.
In Texas, our real estate contracts spell out that you can lose your earnest money AND be sued for specific performance. The specific performance on our contract refer to any party backing out, not just the seller.
Bear in mind there are things that you can do to get an 'out', but usually these involve option periods, time to finance, etc.