I am selling my home. I have signed the contract to an investor. He never put dn the earnest money. Is the contract invalid now

Asked about 1 year ago - Renton, WA

He keeps promising me that he will find me another place to live..but? I say to him "How can you promise me that? I am 69 years old and do not want to go thru this.

Attorney answers (3)

  1. John Robert Eltringham

    Contributor Level 9
    Best Answer
    chosen by asker

    Answered . If the earnest money was supposed to be deposited or paid within a certain time period and it wasn't, it is likely that the contract is invalid now. To be sure, you should have the contract reviewed by a real estate attorney or real estate broker if you cannot afford an attorney.

    This information does not create an attorney-client relationship nor does it constitute legal advice. Evaluate... more
  2. Saphronia R Young

    Contributor Level 13


    Lawyer agrees

    Answered . You have the right to immediately demand adequate assurance, and it sounds as though you have a more complicated agreement than just sale of your home. I agree with the other attorney that recommended you consult with legal counsel.

    Without knowing all of the details, reviewing documents, and interviewing witnesses, no person should assume that... more
  3. R. Russell O'Rourke

    Contributor Level 13


    Lawyers agree

    Answered . You really need to talk to a local real estate attorney now. The fact that he hasn't made his required earnest money deposit is a default, but not likely to be an automatic cancelation of the contract. Check Avvo for a real estate attorney in your local area and call them now.

    IF YOU FOUND THIS ANSWER HELPFUL PLEASE MARK IT SO. The answers provided by R. Russell O’Rourke, Attorney-at-Law... more

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