Purchase Contract Fraud? Should I Be Worried?

Question

Ok after about 2 weeks of back and forth with a seller where she wanted to sell then didn't, she finally decides to sell (with no coercion me) and signs a purchase contract.  I created two identical contracts and we signed both so she could keep one copy for her records.  I was going to file my copy with the RE attorney.  Well on my way home from her house, she calls me and tells me she doesn't want to sell again :o)  The only problem now is that she has a signed contract saying that I intend to buy it from her.  I ask her if I can come by and pick up the contract tomorrow and she said yes.

However, I'm not very comfortable with this situation.  Could she try to con me by waiting until the contract expires and press me for my earnest money ($100) or worse, sue me for not following through with my end of the contract, even though she called it off?  I don't want to press her to sell, I just want to make sure I'm not at fault and then block her number on my phone.

I did have the standard "subject to" clauses in the contract:

- Subject to my financial partner's approval- Subject to Inspection- Subject to Review

What do I have to do make sure I'm protected?  Am I over-reacting?

Thanks,

Letron

Wendell De Guzman · Answer

Just fax to her a cancellation of contract that she signs as well. As long as you have things in writing, you should be good even with flaky sellers like her.

Kelvin Letron Brantley · Answer

Thanks Account Closed!  That makes sense.  I will create a cancellation contract and take it to her tomorrow and then pick up the original copy I gave her.

Letron