Wholesaling
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 10 years ago on . Most recent reply
Buyer backing out after he's already signed the "Contract Assignment"
Can a buyer do this? He hasn't submitted his EMD yet but he has signed the contract assignment document. I've already started the title work but than I get an email this morning stating he's backing out because his ARV minimum is 125k. My email I sent him clearly states ARV is 106k for this house. Do I have any type of recourse in this situation? Or has anybody been in this type of situation?
Most Popular Reply
Wayne Brooks
#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
- 13,509
- Votes |
- 23,418
- Posts
Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
You have no practical recourse. This is why You don't sign the assignment without EM.