Sometimes maybe an “investment group” is just a local realtor that has a special relationship with a local bank and can swoop in and produce the perfect outbid at just the right time.
Does the law of contracts still work anywhere? If their offer was accepted, it shouldn’t matter who else came in with any amount of money. The selling bank should be sued for breach of contract.
Not if they had a valid contract they can’t. There’s more to this story than has been reported.
“Sometimes maybe an ‘investment group’ is just a local realtor that has a special relationship with a local bank and can swoop in and produce the perfect outbid at just the right time.”
That’s right. It happens more than one may think.