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I made an offer to purchase some land based on erroneous…

Hello, I made an offer to...
Hello,
I made an offer to purchase some land based on erroneous information. The owner signed my offer and emailed back to me. The offer had the following contingencies:
1. Seller accepting offer and returning it to buyer within thirty (30) days of the date of this letter;
2. Buyer confirming and approving back tax amount, any property encumbrances, permitted land use, easements, parcel size and other due diligence results;
3. The property being delivered with clear and marketable title and Buyer having full physical possession of the property at closing.
The size I had listed on the offer was incorrect and he signed the offer without pointing that out to me. I would like to send an email withdrawing my offer. I am pretty sure I can do that since my contingencies mention parcel size and I have not signed anything except the cover letter to my offer. The offer was not a contract or a deed. It was simply a two page letter saying I was interested in purchasing and if the owner was interested in selling to sign the offer and email back to me.
regards,
Pat Esposito
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Answered in 3 minutes by:
6/29/2016
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 42,078
Experience: 17 years real estate, Realtor. Landlord 26 years
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

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You are correct that you can rescind your offer. Under a legal doctrine called the Statue of Frauds, any contracts related to real estate have to be in writing in order to be legally binding and signed by both parties. The courts have interpreted the term "writing" to be an actual paper contract listing the terms of the agreement on it and then personally signed by the parties.

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So with no written paper contract, you have no binding legal document that would hold up in court.

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That doesn't even get into the incorrect information aspect which would also give you legal grounds to terminate, even with a written contract, under the legal doctrine of Mistake..

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thanks

Barrister

Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 42,078
Experience: 17 years real estate, Realtor. Landlord 26 years
Verified
Barrister and 87 other Real Estate Law Specialists are ready to help you
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Customer reply replied 1 year ago
Barrister,Thanks for confirming that I can withdrawl the offer without worring about any legal issues arising from my doing it. I hope you have a great 4th.Regards,Pat Esposito
Customer reply replied 1 year ago
Barrister,Before I send this guy an email telling him the I am withdrawing the offer can you take a look at the offer and just confirm that I can withdraw and not give him some way to force me to purchase the parcel. I'm being a bit paranoid but the guys an attorney and I wasnt to make sure I'm in the clear.OFFER TO BUY TAX-DELINQUENT LAND
Buyer: Louis Esposito, d/b/ a Espo Enterprises 2016 ("Buyer") 216 New Timber Trail, Seneca, SC 29672
Property Parcel(###) ###-####
County/ State: Anderson, SC
Acres: 9.44 (this is the mistake) It's really a small lot in a subdivision
Address (if any): SC
Offer Amount: $ 5000.00
Offer Date: 06/23/2016
Buyer, and or assigns, hereby offers to purchase the-above tax-delinquent property for ("net to seller"), to be paid in full at the time of closing. Buyer shall pay all costs associated with closing and take property subject to any delinquent taxes - Seller to receive full offer amount at closing.
Closing will take place within 30 days of Buyer receiving a copy of this offer signed by Seller, at a mutually agreeable time and date for settlement, and at a location convenient to Seller.
This offer is contingent upon:
I. Seller accepting offer and returning it to buyer within thirty (30) days of the date of this letter; 2. Buyer confirming and approving back tax amount, any property encumbrances, permitted land use, easements, parcel size and other due diligence results;
3. The property being delivered with clear and marketable title and Buyer having full physical possession of the property at closing.
If you wish to accept this offer, please do one of the following:
• Sign and Fax to Sign and Fax to Louis Esposito,(###) ###-####• Sign, scan, and email to***@******.***
• Sign and Mail to Louis Esposito, 216 New Timber Trail, Seneca, SC 29672He signed and dated this offer

Yes, unless this was sent on a piece of paper, it doesn't count.... emails don't count as a contract in the legal world.

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And if he printed it out, signed it and mailed it to you, that is just him offering to sell under your terms until you sign it.

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And even then, since you are referring to a completely different acreage, that is the mistake that would allow you to claim that you meant the 9.44 acre parcel.

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thanks

Barrister

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Thanks very much for the positive rating and generous bonus, it is greatly appreciated!

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It was my pleasure to work with you and help with your question. Please feel free to ask for me personally by putting “For Barrister” in the question caption if you need help with anything in the future and I will do everything I can to help or get you to someone who can.

.

.

Barrister

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Customer reply replied 1 year ago
Barrister,It was on paper. I sent the letter to him last week. He signed it, scanned and then emailed back to me. I signed the cover letter but not the offer and as you say it has the 9.44 acres mistake. Am I still good?Pat

Ok, just to be clear here...did he send you a physical piece of paper that he signed in ink? Not a scanned signed copy...

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And if so, did you also sign that piece of paper in ink next to his signature in ink?

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And if so, did you send that piece of paper with both signatures in ink back to him?

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Customer reply replied 1 year ago
Barrister, No, he signed a piece of paper I sent to him and then he scanned it and sent back to me. There is no document with both signatures on it.Now I am confident that I'm in the clear. Sorry for being a pest about this.I appreciate your help.Pat

Ok, then you are good here... It takes two ink signatures on a piece of paper to make a binding contract for real estate.

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And no worries, I completely understand..

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