re: Backing out of Purchase Agreement

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I don't intend to sue anyone, my argument was that threatening a lawsuit was justified in order to obtain those 2 things, which I feel I'm due.

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Don't crawfish now, you was obviously trying to reason with yourself to sue the folks or strong arm them into buying the house.

Think you need to reread.

It was reasonable advice by the poster. The OP didn't see that as reasonable advice, he has been telling everyone that just keeping the deposit wasn't enough. Like I said, if he thought it was reasonable we wouldn't be here.

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No it's not. You want 10% of the price if the home, or to strong arm the people into buying your house. If it were reasonable, we wouldnt still be having this discussion and you would just keep the deposit.

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The deposit is in escrow. As of yesterday, I was going to have to fight for the deposit. I can't "just keep the deposit". That may change soon though.

The buyers (this was actually Tuesday) refuse to voluntarily give up the deposit and will not allow me to see the inspection report.

This is the source of my aggravation.

Why don't you let them out of the deposit in exchange for the inspection report? Then, assuming you find the inspection report reasonable and professional, offer it to the next potential buyer for a percentage of the cost of a new one. You'll look like you are a very upfront seller and your realtor can let the new buyer know that the other people walked because they found a house closer to where they wanted.

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You are pathetic.

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Jesus Christ you're dumb.

My attorney said he thinks he can scare them into going forward. My attorney said that. He also told me he made a double eagle last week. Grain of salt.

He'll threaten it and they'll cough up what I want, which is deposit and inspection.

He's the founding partner of a large firm. He wont be taking this to court. He'll find a way to settle and I'm guessing it happens fast.

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Why don't you let them out of the deposit in exchange for the inspection report

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If the true goal of the OP is to simply get the report in order to fix any issues before accepting another offer, this seems very reasonable.

Maybe the OP's agent and the buyer's agent could have a chat that basically goes like this:

OP's Agent: As you know technically you did not provide notice in proper form. We know your client doesn't want to buy the house. My client would like to see inspection report so he can make fixes for the next buyer. How about we return the deposit to you in exchange for a copy of the report.

Buyer's agent (knowing full well that he f'd up by not putting the notice in writing, which will be a nice E&O issue): Sounds great.

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Why don't you let them out of the deposit in exchange for the inspection report? Then, assuming you find the inspection report reasonable and professional, offer it to the next potential buyer for a percentage of the cost of a new one. You'll look like you are a very upfront seller and your realtor can let the new buyer know that the other people walked because they found a house closer to where they wanted.

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I'm assuming most buyers would want to have their own inspection done. I'm not sure if they would trust the findings of an inspection report given to them by the seller.

I appreciate the advice.

I put myself in the buyers shoes and I would have zero issue passing along the inspection. Why the hell does he need it? To me, it's spiteful and aggressive and that rubs me the wrong way.
It also makes me want to put a ton of energy into beat him at his own game.

If this dude were to have called me, or gone through his agent to do it, and explained that he had whatever issue, and offered up the inspection, I'd have probably called it a day. Instead, he's acting like an a-hole.

True story.

Friend is a real estate investor in the northeast. He was selling a house, to another investor, in an all cash deal. No financing contingency. Inspection went fine. Purchaser was an LLC owned by husband and wife. 72 hours before closing, buyer husband drops dead of a heart attack. Buyer wife obviously is overcome and decides she doesn't want to go through with the LLC's purchase of the house.

Obviously, my friend could have said, too bad, we have an agreement, and the LLC is still in force. My friend, instead, said I'm sorry, refunded the deposit, and put the house back on the market. Five days later he had another all cash offer for 15K more.

You are just being a prick. You got the notice you needed. It was clear. It was reasonable. You are simply trying to use the honest mistake of the buyer's agent to scare the buyer out of some money and a report.

Don't even try the "but the contract says..." foolishness. We all know what the contract says. We all know that notice was provided. We all know there was no doubt as to the notice.

My guess is you and your attorney also know that if this did get to court, that you would be thrown out by the judge, and possibly hit with having to pay the defendent's costs. Guess what? The buyers and buyers agent probably know that as well. =)