Photo: Icatnews/Shutterstock Superior Court Deems Handwritten Real Estate Sales Contract Enforceable, Costing Buyer $148K Deposit
"We acknowledge the trial court's sentiment that appellant 'made a bad deal' in agreeing to the term that any monies paid would be non-refundable," stated McCaffery. "Nevertheless, as the court aptly noted, contracting parties are bound by their agreements, irrespective of whether they embody reasonable or good bargains."
June 13, 2022 at 04:22 PM
4 minute read
The Pennsylvania Superior Court found that a handwritten real estate contract for sale of a property is enforceable even if the purchaser "made a bad deal."
According to the appeals court's June 1 opinion, Phillip W. Grayson offered to purchase a home in Washington, Pennsylvania, from the William Sanders Trust for $220,000. In February 2017, Grayson put a down payment on the property of $100,000 and moved in with his family. In April of that year, Grayson and William Sanders, trustee of the entity, met to finalize the deal. Grayson paid an additional $48,000 cash deposit.
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