Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

83
Posts
12
Votes
Kelvin Letron Brantley
  • Rental Property Investor
  • Fort Mill, SC
12
Votes |
83
Posts

Purchase Contract Fraud? Should I Be Worried?

Kelvin Letron Brantley
  • Rental Property Investor
  • Fort Mill, SC
Posted

Ok after about 2 weeks of back and forth with a seller where she wanted to sell then didn't, she finally decides to sell (with no coercion me) and signs a purchase contract.  I created two identical contracts and we signed both so she could keep one copy for her records.  I was going to file my copy with the RE attorney.  Well on my way home from her house, she calls me and tells me she doesn't want to sell again :o)  The only problem now is that she has a signed contract saying that I intend to buy it from her.  I ask her if I can come by and pick up the contract tomorrow and she said yes.  

However, I'm not very comfortable with this situation.  Could she try to con me by waiting until the contract expires and press me for my earnest money ($100) or worse, sue me for not following through with my end of the contract, even though she called it off?  I don't want to press her to sell, I just want to make sure I'm not at fault and then block her number on my phone. 

I did have the standard "subject to" clauses in the contract:

- Subject to my financial partner's approval
- Subject to Inspection
- Subject to Review

What do I have to do make sure I'm protected?  Am I over-reacting?

Thanks,

Letron

Loading replies...