All Forum Posts by: DM Compton

Thanks Dennis C

Thanks for the input.

The TTR states the seller can cancel 

"In 7 days if a written agreement is not reached  within the specified time in the provision, contract shall terminate and and earnest money returned to buyer"

Hello, I have searched the forum but do not see what I am looking for so hopefully someone will lend some experience here.

Here's the story: I listed my home and accepted an offer which I stated was my last and final with no other concessions. The buyer had a termite inspection done and the examiner determined there was previous damage so the seller wanted a full termite treatment and repairs. While I can understand that I stated I would not put one more penny into the house for any concessions. In the TTR it states after 7 days I as the seller could cancel teh contract and have earnest monies returned. I did so and now the agent is staing that the buy is going to sue for damages.

The "damages" are this: He supposedly halted an expansion of this business in order to free up funds to acquire the house and now states he will have lost revenue.  There may be expenses related to an appraisal, survey etc but noting else.

His business decisions and the purchase of a residential property are not linked in the contract two very separate things.

My take is this is a joke, but I have put a call into my RE attorney. I would appreciate any feedback.

Thanks,

Dennis

Welcome to the community!

Being honest and humble about what you do is a good thing, congrats on the 2nd investment and just continue to learn and share those experiences. Dennis in Tulsa

Hello, New member here from Oklahoma. I've played on an off for years buying, rehabbing and eventually selling. I finally decided to make my efforts more worthwhile and devote more time to real estate and less to my print business. Better late than never, I am sure I will have a lot of questions as deals come up and once I have some good experience under my belt I hope to be a contributor to other new members. Happy 4th to all, Dennis

Congrats, job well done!