re: Backing out of Purchase Agreement

I would at least reach out and talk to them without realtors involved.

Give them an opportunity to explain their situation and personalize the situation.

If you get the feeling they are trying to screw you over or if they're assholes then proceed how you see fit.

More than likely you will come to an agreement and both leave with respect for the other.

These things seem to come back to people no matter how they handle them.

quote:

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It's nothing personal, but to me, a contract works both ways. It's not intended to only help the buyer. If the buyer can use the PA to his advantage, why can't the seller do the same without being a dick? This foolishness is going to cost me time and money.

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How is this going to cost you money?

I've made offers on several houses that were under contract in case one party backed out.

You might want to have a conversation with your realtor if they weren't accepting these offers.

A 10 day inspection period is not long IMO so you weren't really that tied up. If you're going to ask for someone to pay deposit +10%, you're really looking to make a buck, not fair compensation for your losses.

If you're really trying to "provide for your family" it shouldn't be by taking that much money from someone for deciding not to buy your home.

Act like a human, cut them some slack, and sleep better at night. One day you or your family may be in a similar situation.