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Jamie Bennett Schneier

Jamie Schneier’s Answers

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  • I entered into a purchase option agreement to sell 2 adjacent rental houses to a hospital, Can I retract it without being sued?

    My initial offer was to sell my properties to the hospital for $185,000, however the hospital realtor advised me that they would never consider my offer as it was way too high. As a proximate cause, I reluctantly signed the counter offer of $125...

    Jamie’s Answer

    If you accepted their counteroffer in writing, you have entered an agreement, so unless the agreement allows a way out, you are bound and can be sued if you try to retract it. If you mean that you presented the lower offer to the Hospital but they have not yet accepted it, you can withdraw your offer prior to their acceptance, unless the wording in the offer itself binds you to hold it open for a time. So, you need to look at or have an attorney look at exactly what you signed and move quickly if the offer is not yet accepted.

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