Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
Followed Discussions Followed Categories Followed People Followed Locations
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Monique Pope

Monique Pope has started 2 posts and replied 9 times.

Thanks Alan,

There is no additional verbiage about the assignment of interest in the option to purchase agreement.  I have made an appointment with an attorney for next week.  I received a default of judgment over the weekend from a lawyer that states he represents the buyer. Apparently there were papers filed against me, when I halted the sale back on July due to a legal separation I was going through.  Me and the buyer agreed and I was never informed of this court filing.  According to the documentation I received, I was supposedly serve (that's a lie - was never served). They are suing me for filing fee $495 and $100 processor fee. Im confused because I have documentation on the agreement we have and the extended contract we signed back in October before it expired in November.  So at this point, I really think this is intimidation.  The lawyer or processor or both lied because I never received any documentation about any court filing.  

Alan,

Thank you for the clarification.  Your explanation (while I know you are not an attorney nor do you know California specifically laws) was very thorough and helpful.  I have provided responses to your questions below.

1) Were words to this effect included in the original option agreement? The following is the only thing mention about assignment of seller: Parties Optionee and Optionor which terms may be singular or plural and will include the heirs, successors, personal representatives and assigns of Seller and buyer, hereby agree the seller will sell and buyer may buy the following property, upon the following terms and conditions if complete or marked.

2) The deposit was $100 on property.  The value is about $290K.

3) The CRPA is a completely new contract.  No information from the Option to Purchase is indicated in the CPRA.  There was nothing additional added to the Option to Purchase agreement concerning a CPRA.  This is the same person who tried to close escrow and keep the loan in my name until he could find a seller. 

@Brian Pulaski  Thanks.  When it rains, it pours.  

its an option to purchase agreement with the ability for the buyer to assign his interest.  I understand that part.  I guess I should have kept the background out of it. the assignment of interest does not give the buyer the right to create a whole new contract. From an option to purchase agreement with Tim to a California Residential purchase agreement with Mark.   I just can't believe that a person can keep you obligated to sell a home (no time frame - just until it sells) when you are not in a contract with them.  I offered to extend it to Feb 18th and them to March 1st but he refused stating - it will stay on the market until it sells.  I am hopeful a lawyer will be able to help me on this one.

Thanks @Brian Pulaski

Thank you @ Sam Shue

Thank you @ J Scott.  You are correct.  He has used intimidation.  I am not currently in a contract. It expired on November 26, 2019 when i decided not to move forward with the residential contract he presented.  This is very confusing and keeps me woke not he thought of being sued.  I will seek the advice of an attorney which is money I really don't have to spend.  Oh and other thing he has done. Apparently, I received a default judgment in the mail from an attorney that is representing him.  when i decided not to sell due to my pending legal separation and my husband not agreeing to his buyout - court papers are supposedly served to me  which I didn't to receive nor signed for.  No one else lives with me to have signed on my behalf.  the amount is the cost of filing fee and process server. I am heading to court tomorrow to request a notice to vacate judgement since I never was informed of this and I am currently still working with the buyer.  

I entered into a purchase agreement to sell my home on May 2018, Riverside County, CA (to a local real estate agent who owns his own property management company). I am married but was the only person on the deed / title. My husband and I filed legal separation through this process and the only way I could sell the home was to either buy him out or wait until the procedures were over. He agreed to a buy out and changed his mind prior to closing (July 2018). His reasoning was that he didn't trust me or the buyer because the buyer stated we would complete the closing but loan would remain in my name until he was able to find a buyer. I was told this was standard and the buyer put it in email. Informed the buyer and the purchase was placed on hold until I was able to resolve the issue with my estranged husband. I re-entered an agreement with the buyer (he threaten to sue me) for 3 months. The day of contact expiration November 26, 2018, he informed me he wanted he had a buyer and needed me to sign some documents. He sent them over but I was confused since this seemed to be a new contract. we extended the previous contract adding a three month extension. I thought I should only be signing closing documents. He informed me that he had assigned his interest to buy to someone else and I would be selling to them. I was still confused for a number of reasons:

1) I receive no documentation informing me that he was signing his interest to another party

2) The purchaser sent me a completed California Residential Purchase Agreement and Joint Escrow Instructions with individuals with new buyers and the previous buyer listed as broker

3) When I asked the Original buyer additional information about the new contract - he threaten to sue me for breach of contract because he stated I was refusing to sell

4) I didn't understand this new agreement - so I wasn't willing to sign any documents until I had a better understanding

5) The new agreement (CRPA) stated a deposit was rendered and other things about that I would be responsible for which I wasn't under the original purchase agreement

6) I didn't have any contact with the new buyers and was only able to continue talking to the purchase buyer.

About two weeks after much back and forth, me and the original buyer decided that I would not be moving forward with the buyer he had identified and the house will remain on the market. Since my now expired extended purchase agreement contract had expired, I sent the original buyer an email stating that I did not want to enter into a new contract and I would extend the option for him to purchase my home to February 18, 2019. He didn't respond. I sent home another email in January 26, 2018 extending his option to purchase my home until March 01, 2019 because I have been getting a lot of showings. The original buyer stated that the house will stay on the market until its sold.

My questions: Is this legal? Will I be in breach of contract if I refuse? I feel like this guy has continued to take advantage of the fact that I know nothing about real estate, law and I am on a limited income. My home is not in default. I am wanting to sell to relocate. Any advice?

Post: Option to Purchase agreement

Monique PopePosted
  • Posts 9
  • Votes 1

I entered an option to purchase agreement. The individual found a buyer and sent me a 17 page residential purchase agreement with two individuals I do not know. wanted agreement signed within 24hrs. this agreement has verbiage that is not in our original option to purchase agreement. It has a listing agent for the Seller (me) whom I have never met. It states a $2500 deposit was submitted, which I do not have and its states seller will purchase premium warranty when the home suppose to be sold "As Is. The new people are going through FHA for funding. It doesn't indicate any interest assigned. The person who I entered the Option to purchase agreement with, his name only appears once, as the broker. he states I have to sign because our agreement states he can assign his interest. The agreement actually does not have and/or assign; it states: Buyer ________, Seller_________, which terms may be singular plural and will include the heirs, successors personal representatives and assigns Seller and buyer, herby agree Seller will sale and buyer may buy the following property, upon the following terms and conditions. Do I have to move forward with the sell? his name is not in the residential purchase agreement