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I am looking for expressions/idioms to describe:

1) A person who betrays an agreement to sell something to you. Especially because he got a better offer and sold it to someone else instead.

2) The act of doing that. (Would ‘blowing off’ be one?)

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To fail to keep an agreement or to back out of an arranged deal is to 'renege'. Someone who behaves in this way is a 'reneger'.

Renege v : a. Chiefly U.S. To change one's mind; to go back on a promise, undertaking, or contract.

OED-3

Tram firm reneged on ‘gentleman’s agreement’ it’s claimed

The Scotsman

Reneger : 3. orig. and chiefly U.S. A person who goes back on a promise, contract, etc.; esp. a person who does this frequently.

OED-3

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In British English this is unfortuately common in the property market and is known as gazumping.

And again specific to British English, but "blowing off" almost always means farting :-)

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