I was offered 100K by the back-up offer to walk away from a contract recently. Folks still have some money, I guess.

PeekingDuck said:

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I was offered 100K by the back-up offer to walk away from a contract recently. Folks still have some money, I guess.

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I mean that's the definition of tortuous interference. If the sellers got wind of that, it could get nasty.

Well, they were going to pay them more and pay out my agent. I'm not sure there would have been any harm done. But it did seem odd. I bought the property anyway!

How did they get your info?

I'm pretty sure it came through the selling agent. Their offer was late and I imagine they were trying to swing it by contacting the seller and then me after we were under contract.

Since there was no harm in their scenario, they probably weren't terribly worried about offering. They make both agents whole, give me 100K, and pay the seller more for their property. Of course if it fell through after the fact, that could lead to harm to all parties.

I see Lennar has some small lot/ houses for sale in the Crosby area on Lake Houston for 125, 138, 155 k.
This can't be profitable and surprised they aren't being bought for rentals. Looks like a glut of inventory.

interesting. So why didn't you take it? unique property I assume?

Yeah, we'd already been looking for a couple of years and from what I could see on property history and during our search, we likely wouldn't have seen an equivalent property for at least another three years, probably more.

Ready to be done with it and there's no guarantee the 100K ultimately makes me whole on the next property or even if one similar would come up. You can burn 100K pretty quick in a real estate transaction. And being offered 100K to leave and still wanting to purchase the property probably means something.

Makes sense