Tell them you were unable to close the deal due to corona virus financial and health concerns. 

Up until a few weeks ago with the virus, I would say your estimated values are probably a little bit UNDER without knowing anything about location or condition.

We don't even know how to deal with the virus yet, and our economy is already in tatters.

Common wording being used; "This will allow citizens to stay home from work without the added concern of losing their housing and limit the spread of the virus.

@Katie RitterRide it out until this virus is done.

But I don't want to invest another $30K into the property right now since I own a donut shop and the virus has taken a big toll on our cash flow.

Does this virus put this person's job at risk? 

May be some folks here are very optimistic and others very negative, but have into account,  property prices right now vs cash flow, ( another story from 2012 -17)plus high risk with all this virus craziness; id wait a little before investing in anything, my 2 cents.

And trust me, however Trump, corona virus, etc. may feel weird today, China becoming the global leader will make that all feel rather quaint. my2c on the future :)

March 27, 2020, I still hadn’t received a payment, I reach out to them again and they say, “as soon as I get it the corona virus has shut my job down.”