Did the contract have a provision that allows them to terminate the contract under certain circumstances, such as their inability to obtain financing on terms that agreed upon?
Or did Pardee snow them over, and ask them to sign a contract with absolutely no financing contigencies and/or the contract wasn’t read.
Side note: it does seem that although we all like to laugh and or say how “dumb” folks are about real estate, most of us probably knows a family member/relative or even ourselves aren’t immune to always being fully insightful, all knowing, always wise decisioning making person. We’re our own victims of our own absurdity. I guess it’s because we’re human.
Well, I hope your in-laws get the 20k back. But if not, it’s just a lesson learned I guess. Besides, between pay the 20k education fee, instead of being upside down for the next 10-15 years and struggling to meet payments, I’d take the former.
