Sorry a penalty for getting cold feet isnt built into most contracts. Yall are just wrong. A penalty on the buyer maybe, because theyre the ones who end up losing escrow money for backing out but not so much the seller unless the buyer wants to sue.Breh, you’re standing loudly on wrong. One yourself.
The whole point of the purchase and sales agreement is to ensure BOTH parties can’t back out aside from some explicitly stated reasons. If a seller could back out there’d be no point accepting an offer and keeping money in escrow.
Racism aside, I assure you there’s many cases where the seller wishes they could back out because they get a better offer. This actually happened to me on a project I sold earlier this year. I was able to back out because the first buyers couldn’t secure funding by the agreed upon date. Got me an extra 20k, but if they had met that requirement, I wouldn’t have been able to back out after signing the P+S.
Find a new condo and Take your money elsewhere. Handed a racist $750,000
Exactly. Why would you go through with the sale and enrich her family?Once again, they were already under contract, under escrow, and it was basically a done deal. Why should she inconvenience herself for some "victory" over an 84 year old soon to meet her maker? A black woman is getting property. That should be the main takeaway. Much as it may suck, the benefit of getting the condo will likely vastly outweigh the "Not getting my money, CAC
" feeling when its a beachfront view in Virginia Beach, the 7th hottest market in the country.
