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Updated about 10 years ago,

User Stats

38
Posts
8
Votes
Alan Diamond
  • Investor
  • Rochester, NY
8
Votes |
38
Posts

Seller trying to back out

Alan Diamond
  • Investor
  • Rochester, NY
Posted

All,

Any thoughts would be appreciated on the following.

Situation is I am buying a duplex from an out of state seller,  He is working though a local realtor who is also the PM.  We negotiated a price, a little below his asking and agreed. I put down $1000 in EM.  I had the inspection completed ($305), and there were a couple of items found.  We discussed and came to an agreement on how we would split the effort/cost.  Now his realtor says the seller doesn't feel like selling anymore.  He isn't happy with what he agreed to...  My suspicion is the realtor/PM talked him out of the deal, so he could keep the property under his PM.  We offered to decrease the cost of repairs to the seller, but the agent says he won't go for it, but he hasn't presented it to the seller.

Do I have any recourse?  We are out the inspection cost and quite a few hours of effort. I assume they have to return EM... My realtor has done a great job, and of course she is stuck also...

Unhappy in Rochester....

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