Seller wants out of contract

[Kevin Ramsey]

Hello,

I was set up to close on a property this week so I thought. I had inspections completed, signed contract, had paid the Ernest money ect..

Now the title company has found an unpaid bank loan against the property. Title company and agent attempted to contact seller with no luck.

This morning the seller finally makes contact and wants out of contract because the note holder has offered him 5k cash to sign home back over to him. He has offered to pay me $500 for my inspection ect...

Should I just take some cash and walk away or fight it? This is a first for me.

Thanks!

[Steve Morris]

Originally posted by @Darius Ogloza:

"then maybe I am confused but it seems getting out of this deal was a good thing for you?"

I think he's one of the nothing-down wholesalers and told the guy I'll take over your place for debt and you should be happy.

The other guy offered to do the same and give seller $5K more - Which the poster could've done if he was not so cheap.