Today I signed a sales contract for the purchase of a vacation property in Murrells Inlet, South Carolina. I reside in

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Customer: Good Afternoon, my name is ***** ***** today I signed a sales contract for the purchase of a vacation property in Murrells Inlet , South Carolina. I reside in NJ and I would like to get out of the contract. I am seeking assistance in doing so as I have not heard back from my realtor that I emailed and called.
JA: Have you talked to a lawyer about this?
Customer: No I have not.
JA: What steps have you taken so far?
Customer: I've signed the Agreement to Buy and Sell Real Estate.
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: No, I have not put any $$ in earnest money deposit. The contract was originally signed last night, but then an addendum was sent today due to the city name being incorrect.
Answered by Infolawyer in 1 min 7 months ago
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Infolawyer
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Infolawyer, Expert

Hello, my name is ***** ***** I am a licensed attorney with 18+ years experience. Please allow me a few moments to review your question. I will reply right back!

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Infolawyer, Expert

Was it signed by both sides?  did the contract require a deposit?

Customer
Signed by both sides, deposit required by 2/18
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Infolawyer, Expert

Generally, the deposit is a condition for the contract.  If deposit not paid, contract is void.

You can void it by alerting all sides and not paying the deposit.

Customer
Notifying? Emailing, Certified Mail?
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Infolawyer, Expert

I would do both.

Customer
Ok, I'll do both immediately.
Thank you for your help.
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Infolawyer, Expert

I hope my answer is fast and clear. Please let me know if you have a follow up question and I will be happy to answer it.

Customer
Definitely-thank you.
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Infolawyer, Expert

Thank you for the opportunity to address your question. Please stay safe and healthy.

You are welcome to mark me as a favorite and follow up as other questions arise.

Customer
I have another question: they have sent me the following:Please provide reasoning.This is not a commercial purchase so we have a binding contract and not a letter of intent. I'll need reasoning to let sellers know and will provide their response.
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Infolawyer, Expert

You can include your reasons but among them is a condition has not been met which was not the deposit.

Customer
My realtor had me sign a release letter. We then received the following response from the seller. Please let me know what f we should just pay it or if it's unjustified and we actually have a legal ground to stand on:Just got a response from the sellers.
Since the reason for Retracting the contract is not a legal reason to withdraw the sellers are requesting $1k of the of the $10k in leu of legal action
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Infolawyer, Expert

Hi again.  You can reject or negotiate.

Ask a lawyer and get your legal questions answered.
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