re: Backing out of Purchase Agreement

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Contract was broken due to 10 year old, perfectly functioning AC. I offered to replace the entire thing. No dice.

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We get it. You're, excuse my language, butt-hurt over this deal and have decided you are going to show them who's got the bigger sack.

You say you are an investor, so I get you are trying to wring every dollar out of this deal that you can. But you are showing an awful lot of emotion to be a investor. Plus, you are using an agent (apparently not a very good one) so that makes me question your "investor" cred even more.

So I'll say this.

1) If I were the buyer, I'd take the free letter your brother attorney would write me, and tell you to pound sand.

2) If you DID decide to actually take me to court, you better damn well make sure that you have every t crossed and every i dotted. That includes making sure a written recission was not actually made and just not forwarded to you.

3) Since you are an "investor" the judge is going to raise the burden of proof, to make sure you are not trying to screw the little guy.

4) Remember about karma. This stuff comes around. One day you'll be buying from a much larger investor... do you want him to take you to the cleaners?

5) I would also consider just blowing up my financing, and taking advantage of that out clause. Oh, and I'd probably blow it up a day before closing. Oops.

The simple fact is the 10 day period for getting out of the contract because of an inspection, basically gives the buyer a 10 day look. We can say that's a good or bad thing, but it's reality. Someone who is an "investor" should know that.

Why would you come here asking for advice, then try to only defend your opinion that differs than others? Obviously you came here to make yourself feel better for trying to take advantage of the buyers. Take the deposit as many said to be a reasonable fee. If you continue to seek legality against the buyers to try and nail them to the cross, bring your pity party somewhere else to convince yourself you're doing the right thing.

In summary, and much shorter than my post above; you're pissed off because the house is not worth what you are asking. It has nothing to do with "tying the house up". You just don't think you'll get what they were initially willing to pay and you are upset. Again, move on. Although at this point you have family tied up in this and you are hellbent on your stance. My advice is to find a logical reason to "justify" you walking away to the family members you now have involved and do your best to avoid the topic in the future. Save some face and some anguish and get on with your life.

I honestly think people like you are what is wrong with this country.

Hey man, you didn't back out in writing per the terms of the PA. I think I have solid grounds to enforce this thing.

I hate to be litigious. Why don't you just send me over a copy of the inspection and let me see if it is something I can rectify...

What?

Another way to get an inspection report in the future is to require the objecting party to cite to the inspection report. You get a copy and that have to be concrete about their objections.

In writing, as the terms of the PA dictate?

There is such a thing as cost of defense. No one likes getting served with a lawsuit.

All I'm saying is if the guy really wanted the full inspection report, he could probably get it.

Depends on the sophistication of the buyers.

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On what grounds? Did he pay for it? I didn't see anything about it in the contract.

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So now contract details are important?

You've been bitching for 5 pages about how the buyer notified me, ignoring that it wasn't done according to the contract.

And now you want to reference the contract?

So, are contract details important or not?

You can't have it both ways "brochacho".