Buyer trying to cancel a contract mid due diligence

Buyer trying to cancel a contract mid due diligence

Member since 2019 · 1 post · 1 vote

Hey all. I flew out to a park near Dallas, under a contract to buy. Started due diligence and invested quite a bit and buyer is now telling me "we don't have a deal." I have a contract but Title company hasn't accepted earnest money as he said he doesn't want to do it now. Anyone have any good advise, and a good attorney for commercial property contracts in the DFW area? 

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Property Manager · TX · Member since 2019 · 327 posts · 69 votes
5y
Originally posted by @Jud Yaski:

Hey all. I flew out to a park near Dallas, under a contract to buy. Started due diligence and invested quite a bit and buyer is now telling me "we don't have a deal." I have a contract but Title company hasn't accepted earnest money as he said he doesn't want to do it now. Anyone have any good advise, and a good attorney for commercial property contracts in the DFW area? 

 @Ronald Rohde is a good commercial RE attorney and he is in the DFW area.  I have been using him and have been happy with him and his staff.

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  • Property Manager · TX · Member since 2019 · 327 posts · 69 votes
    5y
    Originally posted by @Jud Yaski:

    Hey all. I flew out to a park near Dallas, under a contract to buy. Started due diligence and invested quite a bit and buyer is now telling me "we don't have a deal." I have a contract but Title company hasn't accepted earnest money as he said he doesn't want to do it now. Anyone have any good advise, and a good attorney for commercial property contracts in the DFW area? 

     @Ronald Rohde is a good commercial RE attorney and he is in the DFW area.  I have been using him and have been happy with him and his staff.

  • Real Estate Broker · Portland, OR · Member since 2019 · 4k+ posts · 2k+ votes
    5y

    WHAT DOES YOUR CONTRACT SAY?

    Normally, in a commercial contract, buyer doesn't sign off on due diligence and deal is dead, E/M refunded.  Might help if he told you why.

    I don't think compelling specific performance happens very often, but if you want to sink time and money into a RE lawyer without knowing too much otherwise, you can find someone to take your money.

  • Ronald RohdePro Member
    Attorney · Dallas, TX · Member since 2016 · 5k+ posts · 2k+ votes
    5y
    Originally posted by @Courtney Duong:
    Originally posted by @Jud Yaski:

    Hey all. I flew out to a park near Dallas, under a contract to buy. Started due diligence and invested quite a bit and buyer is now telling me "we don't have a deal." I have a contract but Title company hasn't accepted earnest money as he said he doesn't want to do it now. Anyone have any good advise, and a good attorney for commercial property contracts in the DFW area? 

     @Ronald Rohde is a good commercial RE attorney and he is in the DFW area.  I have been using him and have been happy with him and his staff.

     Thank you Courtney! I've connected with @Jud Yaski

  • Property Manager · TX · Member since 2019 · 327 posts · 69 votes
    5y

    @Ronald Rohde no problem.  

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