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Old 11-17-2004, 01:14 PM
pk227
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potential buyer but seller now in bankruptcy


Property for sale is in Alabama, buyer in AL. I am the seller, live in New Jersey now. I had a townhome for sale, there was a potential buyer for the property, we both signed the sales contract, but after signing, the buyer did had an inspection done, which according to it all electrical, heating, applicances, etc is in working order. However, the buyer had a list of many repairs that they wanted done, and the expense of doing these repairs was something that I cannot afford. So we have spend many weeks negotiating these reapirs that the buyer requests, thus the closing date that was originally in the contract we both signed has passes(not sure if that is relevant) But during those weeks that was spent trying to negotiate about the requested repairs before closing. I had to file bankruptcy, the process was started before I ever signed a contract for sale of the property, but actually turned the completed papers in to the court after we had signed the contract. I was hoping that the sale would close before I actually had to file. Anyway, the property is listed on the bankruptcy. We never got the negotiations about the repairs worked out. The buyer kept insisting that I do all of her requests before should would close on the property. Obviously, this didn't happen. So my question is, am I obligated to pay the buyer back the $250 fee for the inspection of the townhome?
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