Should I be worried about the threat?

Honestly, I dont think he can. I am not a lawyer. But I recently made a bid, and it was accepted. I wanted to do some due diligence, and spent a couple of days researching the neighborhood, building, etc. In that time, another broker went to the seller with a higher bid. I had signed the contract (but not sent it in). My broker said that since the seller had not signed it, there wasn't much I could do.

That said, you should try to resolve this asap, since you may lose the buyer. I know, its the guy you are trying to buy from who is holding everything up... He's probably trolling around for higher offers. Haha. Its all about the money....

If you have not signed the contract yet there is nothing the purchaser can do. Talk to your lawyer.

No, you need not be worried: The threat is baseless. The potential purchaser cannot successfully sue you without a fully executed contract. You will have to give them back their deposit if you don't sign the contract, otherwise you will be sued and will lose.

If this purchaser is so willing to make threats, perhaps you should consider not selling to him. He will make the closing stressful and cause so many problems.

If you haven't signed, you don't have a contract. So what is the purchaser accusing you of backing out of? Deals fall apart during contract negotiations all the time.

My attorney has not deposited the purchaser’s check yet (10% deposit) since I have not signed contract. The purchaser wants a “bigger” check back (10% deposit plus investment income/interest). Do I have to give Purchaser this investment income loss because the check has been sitting in my attorney’s office for a number of days? If so, how do I calculated this extra “investment income/interest”?

Also, my purchaser does not allow me to continue to show my apartment or to have open house, otherwise they want to have “bigger” check back along with lawsuit because I will be the one backing out of the contract. On the other hand, my seller is continuing show their apartment all this time and is having open house this week trying to use my offer to get even higher offer. I just don’t understand why things work this way for me!? Please help!

You have an attorney, so use him. He charges a fixed fee, so I have no idea why you keep posting on this board if you are so worried.

To answer your question, though, the purchaser cannot win in a lawsuit. You do not owe him interest on the undeposited check. And he cannot tell you to stop showing the property; it's your property, not his. As everyone keeps reminding you, you have no contract. But, if the purchaser wants his check back, then you have to mail it back to it him immediately. You really should not sell to this purchaser.

The purchaser is acting like a child . . . and so are you.

call john lego he is in manhattan empire state no better lawyer (honestly it sounds like you have a wacko on your hands

sorry he is in the empire state building

Thank you all for your comments. My attorney said he does not do litigation and he does not do things that Broker is supposed to do. He just passed on the message to me because Purchaser’s attorney told him that Purchaser does not allow me to continue to show my apartment or to do open house, otherwise they want “bigger” check back immediately along with lawsuit.

How many days has the check been sitting around? Have you lied to the other side? Have you done this before? How many lawyers have you been through?