Running out of time!

my wife and i were contacted by our real estate agent on 3/19 about a house that we lost in a bidding war to another couple. our agent received a phone call from the listing agent regarding the same property and that the buyers backed out of the contract and wondered if we wanted to buy the house before she put it back on the market. we immediately accepted and were waiting for the contract. on 3/22 the listing agent called our agent and said the couple who backed out of the deal now want to buy the house. my agent assures me that the other couples cantract is void and yet the last thing i heard from my agent is that the seller is thinking of selling to the original couple. sorry, i failed to mention the home is in new jersey. can they do this and dont i have a verbal agreement with the seller...i mean we were just waiting for the contract to be delivered...

[HomeGuru]

Verbal agreements mean nothing in the purchase and sale of real estate because contracts must be in writing to be enforeceable.
Your real estate agent should have explained that to you.