Consumer Law, Warranties buying a business

[tony455]

I was interested in a business in florida.We verbally agreed on a price and commenced writting up an assett purchase agreement.I commenced due diligence and received the financial information(I am an accountant)after carefully investigating the financials I wento to the owner and made him an offer based on his financials of much less than he was asking for.(the business was not worth his asking price)i waited for a counter offer and all i got was a threatening phone call saying I betrayed him and that i would hear from his attorney.Does this make any sense??If I hadnt made that initial verbal offer he would have not given me the financiual information to begin with.Any advice??