“I wanted to let you know as soon as possible that I am pulling out of the contract with you on the house. Please let me know where I can refund the $10 deposit you gave me.”
I replied asking why and waiting on a response.
Is there anything I can do to keep the contract going? It has been less then two weeks since we signed the contract and we agreed on giving him 2 weeks to clean out the house before he would put a lock box on the door. So I don’t think its cause the length amount of time. Please any advice would be appreciated. This was my first deal I had under contract.
Have the seller sign an affidavit of memorandum and record it at the county records office in order to cloud the title and keep the seller from selling the property to another person.
I have spoken to title company about the power of memorandum, and she told me that it really does not stop the title company from closing on the house. Most title companies will just ignore them.
I would just walk away. You cannot twist their arm to sell, and the last thing I want is to be sued for taking advantage of people by forcing them to sell cheap. Remember, Investors are bad
Actually if the Memorandum is done right the Title Co can’t ignore it. Its a black cloud on title and therefore can’t be ignored. Have your title co help you draft a good one. Also, Seller doesn’t have to sign Memorandum Of Sale only Buyer just an FYI. For this deal walk away
Thanks for all the replies. I really do appreciate all responses. I did plan on walking away from this deal but now I have an end buyer who after looking at the numbers wants to look inside the house. I have tried contacting the seller to at least sign the release of earnest money from the title company but I get no response. I’ve tried calling him the last three days and it goes straight to his voice mail.
I just hope he’s OK and calls me back soon so I could either possibly close this deal or get my earnest money back.
