Seller did not honor our agreement, so I pulled out of the contract

I think from what you say , you've done enough . If you let them jerk you around negotiations might drag on for ages . Some people are hopeless to do business with but at the end of the day it just depends how good the deal is I reckon ...

 

Well there you go 15k with the new value,and this is something you will realize over time when someone is trying clumsily to sell you something,just say "NO" once

 

You let a deal slide for 2k?

 

This is what I don't understand. The price was 300k. 2k is not even 1% if it was actually a good deal 2k wouldn't be the deal breaker for me.

Sounds like OP either changed his mind or has some sort of ego thing about "a deal is a deal" type thing.

When I buy I look for cashflow positive or bmv properties that cost below 200k. My last 3 only cost 164k, 150k, and 155k. I added value by renovation or buying bmv. 2k added onto each of them I still would have made money on everyone. Even adding 10k I still would have made money on everyone. I still don't get how 2k broke the deal. Unless you had borrowed to your absolute limit and couldn't raise another 2k?

How will you feel when the sell it to someone else for more and you missed out on I good deal because of a measly $2000?

 

Sounds like the seller not the OP who did. They had verbally agreed on price and he put that price in contract then they said they didn't want to sign because of special clause but reality is that won't sign now with it taken out either because they want $15k more.

 

ms

Your post alludes to English not being your first language. Do you think there might have been communication problems? Cultural, or even outright racism involved?

 

There is every chance that the vendor's solicitor did not like the wording of the special condition clause and advised the vendor not to sign.

It is also possible that the argument over $2000 annoyed the vendor to the extent that he did not want to sell to you.
Marg

 

RB, why dont you offer them 10k less than your previous offer with no cooling off period and no subject to finance"? Then they can see if their extra 15k bill will float.

Alternatively, you can tell them to go and shove their bill.

 

There was a previous comment regarding wording of special conditions, My solicitor sent the wording for 4 conditions. The seller agreed on 3, and they asked to remove 1 condition. I agreed to that, and then selling agent sent me the contract with the 3 conditions.

and maybe as well he didn't agree with the price reduction, everything is possible. anyway I saw the house advertised for rent today, even the rent is around 15% higher than the rental yield over there.

Will wait until after the holidays and see how things will go.

Thanks
Ramez

 

hahaha it's great to hear you NEED that price because you decided to amend your "market appraisal". Unfortunately for you I'm your only buyer and your opinion on price doesn't matter so for now its goodbye!