Asked in Stockbroker Fraud and Real Estate Law for Michigan

Q: Contract had no dates and broker held it for 6 weeks, then had seller sign, is it valid?

I singed the contract on Nov. 16, then tried to back out on Jan 1 due to inactivity. On Jan. 1, I was told that I would lose my earnest money deposit if I backed out. Then broker had seller sign contract on Jan. 6. Contract still has no dates on it. Is the contract still valid? Can I ask that my earnest money be returned and the fee for the broker be returned because they obviously misrepresented. I now see this firm has many cases of fraudulent transactions against them.

1 Lawyer Answer
David Soble
David Soble
  • Farmington Hills, MI
  • Licensed in Michigan

A: If you put in an offer and then revoked the offer in writing BEFORE the seller accepted, you should be able to walk away from the contract. However, Michigan courts have held that signatures on the (bottom lined) merely evidence that the Parties have an agreement. Courts will also look at the surrounding circumstances to determine if you properly revoked your offer. So what evidence do you have that shows you revoked your offer based on the long delay, before January 6, 2018? Finally, only consider the opinion of a licensed real estate attorney when it comes the law. Real estate sales people are not attorneys and cannot provide legal opinions.

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