Put another way, sophisticated wealthy people are far less worried about losing money honestly, as when an investment is done in good faith but just doesn't work out as planned, as they are about losing money dishonestly.

The seller and I had negotiated and operated in good faith up until that point and I had no reason to believe he wouldn't honor our agreement.This would have been my first multi-family purchase so I guess these kinds of lessons are learned through experience and the hard way.I was just wondering if my attorney who knew the situation would normally inserted language in to the contract release to prevent this sort of thing from happening.

My wife reads all of your discussions faithfully and gets so excited about all the things you guys talk about here. 

When I was in the title insurance industry we put very little faith in a QCD alone.

But the $1850 is a good faith deposit.

With the utmost respect to members of different Faith backgrounds here...I also seem to have this unbreakable habitual addiction to Jesus Christ.

 $1000/week is way, way high, and likely not a penalty designed in good faith.  

I am sure I will go to another, keep the faith!

But nothing wrong with taking a leap of faith as it can always be undone. 

I in turn took a great deal amount of time (in good faith), trying to find multiple contractors to try to make the deal work, .