Question
Novak contracted with Janus, a real estate agent, to find a commercial property for Novak to operate as a nursing home. Janus suggested that Novak
Novak contracted with Janus, a real estate agent, to find a commercial property for Novak to operate as a nursing home. Janus suggested that Novak buy a small apartment building that he owned. Eventually, Novak agreed to pay $800 000 for the building in December 2015. In connection with re-financing the building shortly after the sale, Novak had an appraisal of the building done. The appraiser said the building was worth only $700 000. Novak also discovered that Janus had paid only $500 000 when he bought the building in December 2014. In 2016, Novak received an offer of $1 000 000 for the building, but still thinks that he paid too much. What should Novak do?
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