Two contracts on the same house

What is the name of your state? CO

We signed a contract on a home after another contract fell through. The sellers accepted and signed that contract. 5 days later the persons with the previous contract said they were still under contract given that had 24 hours after the resolution date had past to withdraw all their requests. Now there are two contracts on the house. What is our legal right?

[HomeGuru]

Originally posted by KAJ
What is the name of your state? CO

We signed a contract on a home after another contract fell through. The sellers accepted and signed that contract. 5 days later the persons with the previous contract said they were still under contract given that had 24 hours after the resolution date had past to withdraw all their requests. Now there are two contracts on the house. What is our legal right?

**A: you have the right to find out what the heck is going on. Where is your real estate agent?

Home guru,

Our agent says that we would need to seek legal advice but above that hasn't said anything. The previous buyers are continuing with inspections, etc. I really want the house but don't know what to do.

[HomeGuru]

Originally posted by KAJ
Home guru,

Our agent says that we would need to seek legal advice but above that hasn't said anything. The previous buyers are continuing with inspections, etc. I really want the house but don't know what to do.

**A: unless your contract contained a contingency referencing the first contract ie. your contract is a back-up contract etc., you have grounds to sue for specific performance and breach. Contact an attorney right away. And also have a meeting with your agent and his/her principal broker.

Home Guru,

Our contract did not reference the first contract as we were lead to believe it fell through.

[HomeGuru]

Originally posted by KAJ
Home Guru,

Our contract did not reference the first contract as we were lead to believe it fell through.

**A: then you have a case.