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<p class="MsoNormal">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:<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">3824 Cedar Springs #801-4712<o:p></o:p></p>
<p class="MsoNormal">Dallas, TX 75219<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">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.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">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.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">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.<br>
Matt<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Matthew D. Yates<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Attorney at Law<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Yates Marshall, PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">10000 NE 7th Avenue, Suite 200<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Vancouver, WA 98685<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Phone: (360) 449-6100<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Fax: (360) 449-6111<o:p></o:p></span></p>
<p class="MsoNormal"><a href="mailto:matt@yatesmarshall.com"><span style="font-family:"Times New Roman",serif">matt@yatesmarshall.com</span></a><span style="font-family:"Times New Roman",serif"> (<b>New Email Address</b>)<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">www.yatesmarshall.com<o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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