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Can I be sued for trying to sell RE on contract, but he buyer never signed a contract. Did exchange money to show good faith on the contract, but did not come through on specifeid date with money and did not take ownership of land at specified time. Now I am being sued and I am wanting to go to court and push that we did not have a signed contract I believe we had a option contract. I took the land off the market from others and offered it to the buyer for a certain price and with ownership transfer to take place at a certain time. The money that was exchanged was a non refundable sum of money to show that the buyer intends to buy the land, the contract period has expired and buyer did not go forward with purchase. Now the buyer is suing for lost moeny?? Any thoughts on this with IOWA law?
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