Why did the transaction broker prepare a binding contract form when I just made an initial offer?
Question by tam n: Why did the transaction broker prepare a binding contract form when I just made an initial offer?
I saw a foreclosure house, liked it and made an initial offer. The price I offered is almost close to the sale price. The transaction agent asked me to sign and initial on a form called a legally binding contract which I didn’t see until I got home. If I find out that the house is flooded each time it rains hard, can I get out of this deal without any trouble besides losing the earnest money.
Best answer:
Answer by lilypad819
You got TRAPPED!! You signed a legally binding contract without reading it… I really doubt that you would have any legal recourse. Just to be sure though, you may consider contacting an attorney.
Add your own answer in the comments!