The past few days have been full of Real Property study. Specifically, time for performance and mortgages. Having purchased and sold a few homes in my time, this is familiar territory. I recently had made a Saturday offer on a home in Cincinnati Ohio to a seller who had a relocation broker involved. This again, is familiar territory given that on past occasions, I have had corporate relocation. My Saturday evening offer was accepted verbally by the buyer, but the broker was the only one who could legally accept and offer. Sunday came with a competing bid and this allowed me to rescind my offer. I didn’t care to enrich the seller who lacked honor. Fortuitously, the contract fell apart without detriment to me. I say fortuitous because four days following that offer, I left Cincinnati permanently and it certainly would have been a significant pain to sell a home that I would never reside within or lose earnest money if I broke the contract.
My bright spot today is that I have finally caught up with my legal studies. Yea!