I recently entered into a Sales Contract a man approached me and wanted to buy my home. The man gave me a sales contract I signed it and a copy of an Earnest Deposit Check uncashed or deposited. I recently contacted the Title Insurance Company that he said he was using and the Title Company told me that there was no record of me in their database. I became really nervous about the contract I signed and subsequently asked some friends about it. One informed me that because the Earnest Money was not received by me and that all he gave me was a copy of a check, that he'd pulled a fast one on me. I decided to talk to another buddy of mine and he told me he could sell the home for a much higher price than what the man was asking. I want to know what legal obligation do I have to fulfill the contract? Given that it's been 10 days since I signed the contract and he's not given me nor a Title Company anything. I though Earnest Money meant just that an earnest deposit or honest showing that one was interested in the property.
