Thank you, stylin. We decided NOT to go the route of your wife’s boss, whose yearning for more may be costing him his peace of mind - for 6 years!
The house is in Halifax, Nova Scotia, which can only grow upward since the city is a peninsula and is already as well developed as it can be horizontally. Two houses come down and a 6-8 unit condo goes up. We’re settling for the reduced price with no conditions, which is still 15% above market with nothing at all to do. It will be torn down by the developer.
I’m so happy I’m not going to be spending my spring and summer painting and repairing an old house that has been occupied by 2 men for the last 10 years. My sister said I’ll be shocked when I see it for myself in a few days. I’m guessing it’s because she knows I like my home/property organized and clean and maybe the guys weren’t very good housekeepers?
It sounds like you made a good deal. Think that other buyer was up to no good.
Just observing what you have written about your situation It sounds like a good decision.
I have renovated 2 houses that we eventually moved into. I would not do it again. (I might build, but I would not build big.)