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Updated almost 5 years ago,

User Stats

6
Posts
2
Votes
Adam Ruiz
  • Rental Property Investor
  • Boise, ID
2
Votes |
6
Posts

Sellers wanting to sue for liquidated damages.

Adam Ruiz
  • Rental Property Investor
  • Boise, ID
Posted

With everything going on, we had to make an unfortunate decision and pull the plug on our upcoming closing. I feel terrible for all parties involved but without a true economic foresight I can't reasonably jump into this new house. I told my agent that we understood we'd lose our EMD. But now the sellers broker put it in their head to sue me for liquidated damages. Above and beyond my deposit. The house needed to have some work done before it should have been listed so we requested it. They claim they didn't know it was an issue but I doubt anyone else would have put an offer without it being corrected. I'm not asking for sympathy but understand it's been a stressful couple of weeks and this is adding to it. I want to do right by everyone involved but getting sued into buying a house is a unmanageable pill to swallow.

Thoughts or advice?

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