Buyer Backs Out of Sale

The buyer who was interested in purchasing my $350,000 property for $180,000 has decided to back out (even after the bank accepted the offer, despite it being $170,000 less than what is owed). I rushed like crazy last weekend to clear all my stuff out thinking the property would be in someone else's name by the end of last week.

There are numerous reasons why he backed out, but mainly because of complications with the illegal studio apartment in the attic. It was clearly stated in the MLS listing that it was a 2-family property with an illegal in-law unit.

Needless to say, the bank's $180,000 offer acceptance is only good through April 10th and I received a letter in the mail stating the foreclosure date has been set for April 28th. My agent has relisted the property in MLS and is desperately looking for a new buyer.

Write a Comment


  1. damn…

    that sucks. I’m sorry to hear that.

    So when are we gonna do our business in that case?

    5/1? I hope not. I’m ready to start now! 🙂

    I made close to $600 today! $330 for my Rebel XT body, $150 for my Tamron 70-300mm lens & $90 for the water filter!

    ebay is exciting.

    you don’t happen to have an extra Myotape btw, do you? mine broke 🙁

  2. 🙁

    hey, I forgot what you told be about those wrist watch heart rate monitors a while ago, but i just found this reebok strapless one & I wasnt sure if you said the strapless ones were inaccurate or not

  3. What I had told you was that they require a chest strap, which is very uncomfortable and doesn’t always provide accurate readings. I just looked at that link and that’s for a strapless one. I’ve never used one of those. If you end up getting it, I’d be interested to hear if it’s any good.