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If a purchase agreement is signed by both the seller and buyer can it be breached by either parties?

Or is this a legal binding contract?


Asked by Anonymous at 1:31 AM on May. 28, 2009 in Just for Fun

This question is closed.
Answers (9)
  • Sorry I got caught up on that lol.....I would not bother with the emotional stuff, courts DON'T EVEN want to hear about that now. I would just get the thousand back and now you are all the wiser. It never went into escrow so he got a better offer before it did. Sad but true.

    Answer by Gigi1969 at 2:59 AM on May. 28, 2009

  • It depends on why either party breached the agreement. Was the seller being fraudulant? More info and MAYBE I can help. I passed my real estate principals but never went through with the rest.

    Answer by Gigi1969 at 1:37 AM on May. 28, 2009

  • We bought a house and they accepted our offer and signed a purchase agreement and told us congratulations! On the purchase agreement the sellers(a big company) crossed off a notation that stated they would be responsible for taxes during the time it was being built, which was fine. They wanted us to initial next to that and fax it to them in the morning, which we did. Well the previous night they got a bigger and better offer and accepted that persons offer and signed their purchase agreement too! They said since we didn't initial that the purchase agreement was void! What??

    Answer by Anonymous at 2:02 AM on May. 28, 2009

  • No, they have breached the offer, if you want to fight it get ready to work at it. Did you put the downpayment already? If so and you don't want to fight it they will return it "soon". If you bought it like you say then that means it went to escrow. Who told you they got a better offer?

    Answer by Gigi1969 at 2:05 AM on May. 28, 2009

  • Our realtor said the company told him that somebody offered them a much bigger offer than we did.

    We had to prove to them that we had a $1000.00 check so I wrote it out and gave it my realtor and he faxed a copy of it to them and that was good enough. My realtor still has all of this stuff.

    We want to take them to court, but don't even want the property anymore because how can we trust them? Can we sue them for emotional damage or some shit? lol.

    Answer by Anonymous at 2:11 AM on May. 28, 2009

  • Where'd you go for a smoke? Haha I'm on this site way too much!

    Answer by Anonymous at 2:15 AM on May. 28, 2009

  • How am I wiser? This whole situation just taught me that a contract doesn't mean anything!

    I know you're right, it's just soooo frustrating. Thanks for all of your help:)

    Answer by Anonymous at 3:02 AM on May. 28, 2009

  • You are wiser to initial the document you needed to right then and there and not have to fax it. You didn't specify why everything else was signed and fine and not the notation about the taxes. Why did you have to initial this and fax it and not the other documents?

    Answer by Gigi1969 at 3:20 AM on May. 28, 2009

  • In Ohio there is a three day right of recision, or right to cancel.

    Answer by salexander at 10:35 AM on May. 28, 2009