No particular reason.

In Texas, NON-Realtors like myself, CAN use the contracts that Realtors use, and I usually do.Once you start doing a bunch of direct marketing and driving for $$ you will have to get familiar with contracts and the whole closing process.

Of course, there's more than one way to do it and you may want to talk to your attorney about some of the more particular points.

So it looks like he has 2 causes to cancel contract, 1) Seller cannot deliver Marketable Title and 2) Bank rejected the Application due to length of time.While he can't actually buy anything because his deposit is locked up, he needs to see what is available so he can make a decision on if he should stay in this prolonged Contract or cancel it and go on to another property.So he wants to submit a non-binding offer to purchase but cannot go into contract because he has no money for a down payment until the previous down payment is returned.HOWEVER, it seems as if the original Seller's Attorney wants to use this to claim Breach of Contract?!

I have a degree in Supply Chain Management and do some logistics work for a non-profit in my area when I'm not working in real estate.

Talk to your CPA and confirm what the impact will be in YOUR particular situation. 

@Brian BandasGood intentions, great start.For the particulars, you'll have to try out your marketplace.

We’ll make some other assumptions in order to keep this as close to an apples-to-apples comparison, too: You don’t have to invest a dime of your own moneyYou paid the same amount the REITs didVacancy Rate stays static at 15%You hire a property manager at 11%Repairs and maintenance are a very reasonable 7%Capex is about 8% since the homes are reasonably newYour mortgage rate on a 30-year fixed is 4.138% (more on why I picked that number in a bit)No PMI (no particular reason--I just like you)The numbers should look roughly like this:As you can see, you’re going to have to come up with a bit of cash each year, if you want to own them outright in 30 years. 

Supposedly non-recourse, fixed rate, 10+ year loans. 

@Danny Randazzo  Comment above was that it was an irritation to see the PM get paid more when a tenant non-renews, than if they renew.