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At trial, petitioner alleged that Mr. Suiter should have
known that petitioner would be unable to obtain financing for the
purchase of Skylane Apartments. Thus, petitioner alleged as a
basis for the recovery of the $55,000 amount that he was misled
by Mr. Suiter.
We are not persuaded by petitioner's allegations regarding
being misled by Mr. Suiter. First, an individual with 40 years
of experience in the commercial real estate market should be
familiar with the problems of obtaining real estate financing.
Moreover, petitioner testified at trial that he was aware of the
difficulties in obtaining financing specific to the real estate
market in Texas at the time that he signed the Earnest Money
Contract.
There is no persuasive evidence in the record that supports
petitioner's allegation that he was misled by Mr. Suiter. To the
contrary, the record contains direct evidence that petitioner was
motivated by his own sense of optimism to extend the Earnest
Money Contract. Thus, when petitioner was unable to meet the
original closing date deadline of August 8, 1990, it was
petitioner who requested an extension. Also, in signing the
First Addendum, petitioner falsely represented that financing had
already been obtained. When petitioner was unable to close the
transaction by October 19, 1990, petitioner again requested an
extension of the closing date. At trial, petitioner testified
that he was motivated to extend the closing date deadline from
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