Quote:
Originally Posted by Descant
nhyitbos "There is nothing you can do to ensure that the seller won't let you make the repair then turn around and sell it for a higher price to someone else."
Business deals are not like selling a house where there is a standard contract and everything happens in 30 days. (A house seller can't just walk away from a contract either.)
In a deal of this size, I'm sure both buyer and seller have had adequate legal advice. They are both bound by whatever contract they agreed to and default by either party would have consequences, including a cloud on the title that would stop some other buyer. The seller cannot just walk away and sell to somebody else, whether there are repairs or not.
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Please take this in the spirit it's intended...as a retired commercial broker and land developer in the fourth largest city in the nation...there is a difference between binding and enforceable...hopefully it has both...always a way to "get out" for either parties...I was commenting that I fear more for the buyers in this deal....again...they don't own the property...would be interested in seeing the legal language that protected the buyer from the seller implementing (just my) the scenario that I stated. Oh, don't ever say never, one of my property owners called to say that his house was going do the road on a flatbed semi...as I was 250 miles from him, suggested he call the police..then the insurance company. lol
