Third Deal Falls Apart

[Anthony Gayden]

Well, just like that, my third deal fell apart. I can really only blame myself, because my situation is what caused it. I am relocating across the country in a month to Omaha, Nebraska, as I mentioned in a prior thread.

Well going over my finances, and realizing how much it was going to cost me to move across country, and the fact that I would be moving pretty soon after I purchased the property, I came to the conclusion that financially it would be a bad move to attempt to do both. 

Unfortunately, I will lose my $1000 earnest money deposit, and the $600 that I paid for an inspection, which is $1600 total. However I consider that a small price to pay because I would have been stretching myself way too thin.

I apologized to the seller, and he was not happy, and I am worried that my reputation as an investor will suffer as a result. 

[Jesse T.]

Do you know investors who might be interested in the deal you backed out of closing?

I wouldn't expect any money back, but it could help your reputation.