I sold a multifamily property with a 1031 exchange clause, a few month later we located a property from a friend's client, we agreed on the price, no appraisal
needed so the appraisal was not a condition for the price, and the sell was going to be As is.
the did not want to use a real estate
agent in order to save the cost of the commission, and they will provide escrow
, by the way I was dealing with the trustee, 2 days before closing escrow the trustee send a note to perform, by then the bank has the loan approved and needed 2 days to finish paper work.
the trustee calls me and finds out that the appraisal required by the bank comes higher than the amount agreed by about 75,000, now she wants 60,000 more or cancels the deals, she knows is a 1031 exchange and I do not have time to get another property
incurring in heavy taxes fro US around 130,000.
do I have a case for breach of contract, malice with intention to harm or similar?