Legal Question in Real Estate Law in West Virginia

Breach of Contract - Loss of Deposit
My wife and I drove to WV to look at a piece of property in a rural development. The sales person had a two-way radio to communicate with other sellers and properties were purportedly selling fast. I hastily signed a contract for the land and put down a deposit of $8500 (10% of the price). Before the seller could take any action on Monday morning, I contacted them and told them I had made a mistake and was no longer interested in buying the land. I also advised that I had stopped payment on the check. They advised that they are legally entitled to the 10% for damages and would ''contact me'' after speaking to the owner of the company. Do I have ANY legal recourse beyond going through with the contact or forfeiting $8500?

Asked on 11/25/02, 2:01 pm

Michael Hendrickson Law Office Michael E. Hendrickson

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Re: Breach of Contract - Loss of Deposit

What does the contract you signed say about your right of cancellation and the return of your deposit?

The idea that these land sharks should(or could)

be entitled to your deposit to cover their "damages" is absurd. What damages could they

have possibly incurred in so short a time frame?

You should proceed with your stop payment on the check action. If they begin to harass you for the

money, you should see a lawyer, making sure that you bring along a copy of the contract for him or her to review.

Answered on 11/25/02, 11:35 pm

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