Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 9 years ago,
Am I screwed?
So in my attempt to wholesale a property I may have cost myself $1000. I am posting on here for assistance in saving my cash. I am requesting that only those that can answer with 100% certainty answer, I don't really just want opinions from those with no prior experience. This is a property in Florida and was submitting using the most recent version of the FAR/BAR As-is.
I made the mistake of not submitting my $1000 escrow to the title company within 3 calendar days, I was going off business days for some reason. On the 3rd business day I spoke with the person I thought was the seller (the one who showed me the property and that I set up to do the electronic signature) and told him I was going to be cancelling because I wouldn't have cash in time to close. He said that was fine and to send over the cancellation. I did that also on the same day, still within the 3 business days, and can see that the cancellation was viewed online. It was never signed however.
Today I get a letter from a lawyer requesting the $1000 be sent to the seller for violating the contract. It threatens mediation which would be paid for by the losing party. At first I just thought this was a greedy money grab attempt but it turns out this seller is a real estate lawyer here in town. So I am guessing he knows the real estate laws better than I do......
The only loophole I have found so far is that the person I have been in contact with, that I sent the contract to his email to be signed, is not affiliated in any way with the seller. Different name, different email address/host, everything. So I don't know if it was actually the seller himself that ever logged onto the electronic signature site and signed the document. This person is also not listed on Sunbiz under the LLC owning the house either.
I don't want anything in this case except to not have to pay this a-hole $1000 that he doesn't deserve. Yeah I screwed up so I don't want to hear that. If you have suggestions I would appreciate them. Have I mentioned I hate lawyers?????