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    marcusmagice's Avatar
    marcusmagice Posts: 1, Reputation: 1
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    #1

    Jun 28, 2008, 04:14 PM
    Sales Contract
    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.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Jun 28, 2008, 05:02 PM
    You what?

    You took a copy of a check? Call the police fast,

    You may well have signed that you received the depost money and when you back out of the sale may well owe this person back all of that money you never got.

    And you signed a contract without having a real estate broker or an attorney reviewing it??

    Get an attorney fast, call the police

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