seller accepted, then deal was intercepted

[gruthman]

What is the name of your state? New York

This morning a seller accepted our offer on their property. They have faxed our offer back to us signed off.

This afternoon another bidder came forward - their agent forced the issue contacting the seller's agent's manager telling them that according to New York real estate law all offers must be presented to the seller. Furthermore, the offer was not "final" because the seller's attorney and my attorney had not sealed it up (not a legal term here - my language).

I think the thrust of it was that the seller's attorney can still cancel our accepted offer. - that we were only "pending" and not "in contract" until both of our attorneys were done - and that by law the seller's agent MUST present other offers while it was "pending".

All this, of course, was AFTER my agent got the fax with the seller's signature on my offer.

My agent expressed fury - (personally, I'm not even sure if this isn't a scam) - we are now preparing a new offer at fully ten thousand dollars over the original, "accepted, signed" deal.

How do I even know that the "other bidder" wasn't the brother of the owner ? How do I even know that my agent was looking out for my best interest- knowing as she did that I was ABLE and willing to bid higher ?

What is going on ? Do I need a lawyer ?

Of course, this information comes to me at 10:30 on a Sunday night, just the time when I'm least likely to pick up the yellow pages and ask the advice of a lawyer or another agent.

 

[HomeGuru]

What is the name of your state? New York

This morning a seller accepted our offer on their property. They have faxed our offer back to us signed off.

This afternoon another bidder came forward - their agent forced the issue contacting the seller's agent's manager telling them that according to New York real estate law all offers must be presented to the seller. Furthermore, the offer was not "final" because the seller's attorney and my attorney had not sealed it up (not a legal term here - my language).

I think the thrust of it was that the seller's attorney can still cancel our accepted offer. - that we were only "pending" and not "in contract" until both of our attorneys were done - and that by law the seller's agent MUST present other offers while it was "pending".

All this, of course, was AFTER my agent got the fax with the seller's signature on my offer.

My agent expressed fury - (personally, I'm not even sure if this isn't a scam) - we are now preparing a new offer at fully ten thousand dollars over the original, "accepted, signed" deal.

How do I even know that the "other bidder" wasn't the brother of the owner ? How do I even know that my agent was looking out for my best interest- knowing as she did that I was ABLE and willing to bid higher ?

What is going on ? Do I need a lawyer ?

Of course, this information comes to me at 10:30 on a Sunday night, just the time when I'm least likely to pick up the yellow pages and ask the advice of a lawyer or another agent.

**A: yes, have a real estate attorney help you. We are unable to see if your contract is enforceable.

 

[gruthman]

Thank you for your reply.

I told my agent that I would hire an attorney to review all this mess.

During the day, my agent spoke to their company's lawyer who assured her that the contract was a contract and they could NOT tear it up simply because they had another offer.

The advice I received was to just press on with the inspections, etc, as if my original offer was the final contract and force the seller to make the first move to deny it's validity - since in New York their attorney has to "approve" the contract (for form, not content).

The seller's agent called back this afternoon to tell us that her client would not be bothering with the legal angle and they just want to "pretend it never happened".

I'm thinking that the whole thing was that I was smart enough to not sign anything before talking to a lawyer - heck, I never even did talk to one, only tell others that that was what I am doing. If I had not been so careful, I would have paid 10 thousand dollars more for the same deal.

It appears to have worked out. Thank you.

 

[HomeGuru]

Thank you for your reply.

I told my agent that I would hire an attorney to review all this mess.

During the day, my agent spoke to their company's lawyer who assured her that the contract was a contract and they could NOT tear it up simply because they had another offer.

The advice I received was to just press on with the inspections, etc, as if my original offer was the final contract and force the seller to make the first move to deny it's validity - since in New York their attorney has to "approve" the contract (for form, not content).

The seller's agent called back this afternoon to tell us that her client would not be bothering with the legal angle and they just want to "pretend it never happened".

I'm thinking that the whole thing was that I was smart enough to not sign anything before talking to a lawyer - heck, I never even did talk to one, only tell others that that was what I am doing. If I had not been so careful, I would have paid 10 thousand dollars more for the same deal.

It appears to have worked out. Thank you.

**A: ok, but what appears to be worked out? Is the Seller going to sell you the home after all?