re: Backing out of Purchase Agreement

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.