Posted by John on July 11, 2005 at 06:13:42:
I think you made a booboo and should have written that you were assigning the contract (I presume it’s assignable) - then again perhaps the dates to execute need to be looked at…but i’m no attorney so I may be wrong…
earnest money on a simultaneous closing - Posted by Darren
Posted by Darren on July 06, 2005 at 13:58:19:
I just got a call from an attorney of two gentlemen who claim they are going to initiate a lawsuit. I had 2 homes under contract and they wanted to buy both. I was going to wholesale both. I executed a purchase and sale agreement with the buyers and my company as the seller. I spelled out in plain English the fact that the earnest money deposit was non-refundable. Their attorney claims that the contract was void because our company was not on title on either property, thus I should refund their earnest monies. Do they have a case or should I just ignore them?