SAVING A FAILED DEAL

We were retained to sell a 48-unit rental townhome community in Baltimore City. After extensive marketing, the property went under contract to a local buyer. That buyer was approaching the end of due diligence without the capacity to close, and brought in a partner who posted a substantial sum to extend due diligence. The entity walked away from a mid-six-figure deposit. We worked with the original buyer to structure a workable deal that included the forfeited deposit and went to settlement for a figure above the original asking price.