Posted by Redline on January 22, 1999 at 21:30:38:
Well, the thing is … you are technically correct. He bought properties that are now complete dogs and you could say “Well, that’s his problem”.
On the other hand, this could become the sellers problem because … if the properties aren’t worth much, he’s only going to make money on this deal if the buyer keeps paying. But if he can no longer continue to pay - well then now TWO people have problems, no?
So, in this case it may be in BOTH parties best interest to re-nogotiate a little. Maybe not. The seller might not mind taking back the properties if he’s included language to do so (which he should have).