House #7: No Go

April 15, 2009 · 0 comments

I mentioned last week that we received a second offer on The Roach Duplex. Based on the fact that the buyers were treating this purchase from the perspective of an owner-occupant (while this property is clearly geared towards an investor with some rehab experience), I was skeptical that it would ever get through due diligence.

And I was correct…

On Monday, we received word that the buyers weren’t interested in moving forward, and the contract was terminated.

The property is still on the market, and I’m still happy to hold it for as long as necessary…in fact, a part of me is glad that I may still be sitting on this piece of land once the market turns…

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