re: Backing out of Purchase Agreement

quote:

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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.