It’s with sadness that I write this blog post. This about a failed transaction we recently were involved in.
The prospective purchaser had her house in Bergen County under contract with a closing date about 53 days ahead of when we wrote the contract. We found a nice home for her in an adult community. The seller was an investor who had flipped the home, and they did a nice job. We negotiated a price that was top dollar for that community, but the buyer loved the house and it was within her budget.
We entered attorney review, sort of. The seller’s felt they had sufficient expertise and didn’t need an attorney – after all, they were investors. Nothing happened for about a week, the buyer’s attorney kept trying to contact the sellers to conclude attorney review, but they ignored him. Finally a week after we had agreed on the price and terms, and had received a signed contract, we received a letter killing the deal. They simply said that they accepted another offer.
So now we have this lady who will soon be closing on her old house, and she has nowhere to go. Don’t worry – we will find her another home, and she will not be homeless.
But these investors and their Realtor think nothing about the person whose very life is being disrupted by their cavalier behavior.
But when we said to the sellers Realtor “How can you be so heartless about this?” her answer was “It’s the investors decision”
Then she had the teremity to tell us that the same investor should have another flip ready to sell in about a month and we are welcome to bid on that one. As if we would even consider dealing with pond scum such as these people again.
Legally, the investors did nothing wrong. Morally, I believe they did.
I have never, and would not treat people that way. I like to sleep at night, and I have no trouble doing so. But dealing as these people do would jeapordize that.