Seller not performing

What is the name of your state? California.
We put an offer in on a house. Seller countered, saying he would accept signed counters & answer by 5:00 on a certain day. We accepted his counter terms, signed & faxed the document back. The day he was supposed to answer (obviously he is trying for the best offer), his broker called & said he would respond at 6:00. Then they called again & said he would respond at 10:30 pm that night! We have not heard a thing. They are holding the house open today. I feel that they are trying to manipulate the market. BUT, we have a signed counter that we accepted with no changes. Is that not a legal & binding contract?

Sellers today are to unethical & they are driving real estate prices up by doing these manuvers. Sales are like auctions & people are "bidding" higher & higher. Whatever happened to ethics?

[HomeGuru]

Originally Posted by dollsr

What is the name of your state? California.
We put an offer in on a house. Seller countered, saying he would accept signed counters & answer by 5:00 on a certain day. We accepted his counter terms, signed & faxed the document back.

**A: did you do this prior to the expiration date as stated on the counter offer? And where is your real estate agent?

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The day he was supposed to answer (obviously he is trying for the best offer), his broker called & said he would respond at 6:00. Then they called again & said he would respond at 10:30 pm that night! We have not heard a thing. They are holding the house open today. I feel that they are trying to manipulate the market. BUT, we have a signed counter that we accepted with no changes. Is that not a legal & binding contract?

**A: may be, may be not. The Seller could have rescinded the counter before you accepted or moved the date and time of his approval and acceptance of your counter offer. It appears the latter.
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Sellers today are to unethical & they are driving real estate prices up by doing these manuvers. Sales are like auctions & people are "bidding" higher & higher. Whatever happened to ethics?

**A: whatever happened to Buyer's brokers?

[JETX]

And the most important unanswered question.....
Did the seller sign acceptance of YOUR signed offer??? If not, then there is no contract in the first place.

What is the name of your state?

Originally Posted by HomeGuru

**A: whatever happened to Buyer's brokers?

We have a broker. Yes, we replied within minutes of receiving the counter. In the end, they sold to a "new buyer". Obviously someone else saw it (I know they were showing it yesterday after they responded to our offer). This person came in $2000 above us. So being greedy, they took that offer.
Also that buyer's broker was from the same company as the seller's broker. Therefore they kept the $ in the same office.

It just boils down to greed on the part of sellers & brokers. It was all totally unethical, as far as I'm concerned.

Also, we will now have to continue looking for a house, and will have to write with the seller's broker...that is the way it's going these days!

[JETX]

And you STILL haven't answered the KEY question.....
"Did the seller sign acceptance of YOUR signed offer???"

[HomeGuru]

.. .and will have to write with the seller's broker...that is the way it's going these days!

**A: what does that mean? You are not obligated to use the Seller's broker.