Agent Verbally/Email Accepted Offer, Then Took Another

[bmun21]

Maryland

Made an offer on a condo. The sellers verbally accepted my offer and in email said they were meeting that night to sign and just had a couple quick changes that once made and sent back to them they would send us the executed contract that night. Which we resent right away. Then that night we received another email saying they accepted another offer even though my offer would've netted them more. The other had a higher down payment and lower loan amount. They were concerned of appraisal. Never had a chance to even match which I'm sure we would've been able to. Just thought it was odd but maybe just a standard situation that sucks.

Anything I can do about it?

 

[PayrollHRGuy]

Look for another condo.

You didn't mention what state you are from but most of them have a statute of frauds that require many contracts to be written and virtually always include real estate contracts.

 

[bmun21]

Maryland

 

[PayrollHRGuy]

Yep.

https://law.justia.com/codes/maryland/2015/article-grp/title-5/section-5-104/

 

[bmun21]

Thanks, figured there wasn't anything else to do but thought I'd check

 

[Taxing Matters]

Anything I can do about it?

Even if there hadn't been a statute of frauds issue, it is clear in this situation that the parties anticipated that the actual contract would be concluded in writing; thus there would be no contract until both parties had signed that written contract. There was no verbal contract here. But, of course, even had there been a verbal contract, that would have been a problem given the statute of frauds.

 

[bmun21]

Yeah they just said that my offer was the best and that they are accepting it and would sign that night. Unfortunate

 

[PayrollHRGuy]

Yeah they just said that my offer was the best...

It was right up until it wasn't.

I know it is disappointing but there will be another condo/house to buy.