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Northwest Voices

Seattle Times letters to the editor

April 27, 2009 at 4:30 PM

Condo buyers bail

Buyers should honor contracts

In 2006, there were two basic buyers willing to speculate on the high-rise condos: those with need and those with greed.

In good faith, both groups signed and paid earnest money for their units while the sellers agreed to the terms of the contracts

Now that the condo values are lower, the greedy expect to have their down payments refunded [“Condo buyers bailing now that bubble has burst,” page one, April 24]. Likewise the needy, who didn’t sell their former homes for the prices they needed to support their condo purchases.

Some have hired attorneys trying to get refunds. Had the economic pendulum swung the other way, would those same folks be willing to pay more money at closing to the sellers? I don’t think so.

You read the contract, you understood the contract, you signed the contract and paid a down payment. You married that agreement.

In the case of a divorce, each partner is obligated to stand by his or her signature as well. Change in marital status is no excuse for not being financially responsible.

— Burt Harwood, Longview

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