American Home Mortgage’s impact on the Charlottesville Market

The HooK has a great article today … but airing contractual disputes in public? Bad form.

“The buyers, after entering into a contract, decided they didn’t like the interest rate,” says King. “They blew it off. It was in the contract… I believe when you enter a contract and don’t lock it in, that’s on you. For them to bail like that so close to closing is just wrong.”

Sutton intends to keep the Prashains’ $1,000 deposit, and could sue them to enforce the contract, says King. Her condo at 605 Whitcover is back on the market, and she’ll be having an open house Sunday, August 12.

Remember what we’ve been saying about market psychology and the media? Titling an article a “National Disaster” certainly doesn’t help.

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