Posted by Cindy on 7/18/07

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We sold four acres in 10/2006. At that time the buyer
gave us 100k and asked us to carry 20k which would be due
11/2007. We said no problem.

My husband is a real estate broker and we had bought the
property from a business associate, I hadn't ever seen it,
for future developement. We never got to the point to
have it surveyed or meet with a builder when we decided to
sell it.

Now the buyer has retained an attorney and not only wants
to not pay us the note he owes, but wants us to give him
30k back since he says that when he had it surveyed four
months after the close there was some drainage easements
that did not allow him to build the size house he wanted.
In the purchase contract we added a provision that we had
accepted his offer (we had six others) but that he could
have a week to travel to see the property and give it
final approval? He is stating that we misrepresented the
property to him and therefore feels he should not pay us.

Any suggestions?

2006 land sale goes bad in 2007, 7/18/07, by Cindy.

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