[WSBAPT] How to Validate an Offer to Purchase Real Property, Stark Contrast in Price

[Roger Hawkes]

If your supposition is correct, there should be a cpa action against the Texans.  A successful one.

Roger Hawkes, WSBA # 5173
Shoreline Office: 19944 Ballinger Way NE
                                Shoreline, WA 98155
Sultan Office:        423 Main
                                 Sultan, WA 98294

Phone: 206 367 5000; fax: 206 367 4005
Email: roger at law-hawks.com<mailto:roger at law-hawks.com>
Web site: www.hawkeslawfirm.com<http://www.hawkeslawfirm.com/>
[cid:image001.jpg at 01D76049.EFB22E70]

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Matt Yates
Sent: Sunday, June 13, 2021 11:21 AM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] How to Validate an Offer to Purchase Real Property, Stark Contrast in Price

I have been engaged by an elderly woman who has a vacant real property parcel in SW Washington for sale.  She has executed a NMLS PSA for $20,000 but has since received a letter offer (sort of) for $280,000 from a Texas LLC called Richland Acquisitions.  The TX firm's address is:

3824 Cedar Springs #801-4712
Dallas, TX 75219

Anybody heard of them?  My presumption is that the letter client received is an "offer to sell" her land rather than an offer to buy it.  That is, they'll get her to commit to selling it through them and then they market it for a period of time and if it does not sell, the offer to sell is terminated.  The letter that she received lacks detail making it very ambiguous.

Client wants to know if she can terminate the existing PSA and "accept the other offer."  Again, I doubt its an offer to buy but, if it were, at the very least we might have a case of efficient breach if she needs to get out of the existing PSA.  I acknowledge that "specific performance" is still a viable remedy in real property transactions.

Any input is welcome especially if the entity who sent her the letter offer sounds familiar.  They have a website but doesn't everyone these days.
Matt


Matthew D. Yates
Attorney at Law
Yates Marshall, PLLC
10000 NE 7th Avenue, Suite 200
Vancouver, WA 98685
Phone: (360) 449-6100
Fax: (360) 449-6111
matt at yatesmarshall.com<mailto:matt at yatesmarshall.com> (New Email Address)
www.yatesmarshall.com<http://www.yatesmarshall.com>

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