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NRLL Land Purchase--Is it a contract?

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brewski50

Junior Member
What is the name of your state?Arizona
I own undeveloped land in Montana. I received a letter from NRLL--a California-based land purchaser--asking if I was interested in selling the land. I responded yes. I received another letter that stated: "after analyzing your property as well as recent sales information for the surrounding area, I am at this time willing to pay you $10,000 total in CASH for your parcel. If this is acceptable to you, please contact me today! I shall have the paperwork drawn up immediately."
I responded the same day as I received the letter and was told that they would email an agreement to me. I received the email within a day or two and agreed. The agreement contained a provision for inspection. About 6
weeks later, I called and was told they had cancelled the purchase.
My question, was there a contract between us based on their offer and my acceptance and does the initial offer, which states they have analyzed my property, imply that the subsequent inspection is, like all real estate inspections, only for changes subsequent to the original "analysis"?
 


seniorjudge

Senior Member
You were deep into negotiations but you had no contract.

A real estate contract must be in writing and signed by all the parties.
 

HomeGuru

Senior Member
brewski50 said:
What is the name of your state?Arizona
I own undeveloped land in Montana. I received a letter from NRLL--a California-based land purchaser--asking if I was interested in selling the land. I responded yes. I received another letter that stated: "after analyzing your property as well as recent sales information for the surrounding area, I am at this time willing to pay you $10,000 total in CASH for your parcel. If this is acceptable to you, please contact me today! I shall have the paperwork drawn up immediately."
I responded the same day as I received the letter and was told that they would email an agreement to me. I received the email within a day or two and agreed. The agreement contained a provision for inspection. About 6
weeks later, I called and was told they had cancelled the purchase.
My question, was there a contract between us based on their offer and my acceptance and does the initial offer, which states they have analyzed my property, imply that the subsequent inspection is, like all real estate inspections, only for changes subsequent to the original "analysis"?
**A: our analysis is that you have no deal.
 

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