HI:

I have a contract with a buyer to purchase my home and he stated in it that he would give me $20. As earnest money - he has given me none - is this a binding contract?

This is a long story but my house went into a sheriff sale and I had 12 days to redeem, because I got this investor before the 12 days expired, I was out of town when he signed the contract and I gave a letter to my neighbor to sign for me and he ended up putting the contract in his girlfriends name and gave me no money as a down pay't even though the contract stated the $20. Was given. I had gotten an extension to my redemption period from the courts and there will be no more extensions, this buyer wants to close on the day that this extension expires and that can not happen since I have to bring the check to the Sheriff's office with my ID before 4Pm on the 30th Nov.

I was under considerable duress over this and he has taken advantage of me and I spoke with him at my home about 12 days after he signed this contract which I did not see until 2 days after he made it and sent it to the courts that he needs to give me earnest money of at least 3-5K for a $200,000. Home - he said that he would give it and he never did!

I have a another buyer who is paying cash, has given 5K to a real estate agent and gave supporting documents that he has the cash to buy and he would have closed last week and we have another date on the 13th Nov set up - can I go to closing with him without suffering any repercussions from the 1st buyer?

Thank you very much... I must get an answer within the next 48 hrs! I am about to lose 113K of my own money that I put down on the house 3 years ago to buy it!

Jollyranger