Buyers cold feet

[longsally111]

Well, here is the final time line on it so far. The contract states that " any offer, counter offer and/or acceptance of any offer may be communicated by fax or other secured electronic means including but not limited to electronic mail and the internet". The one thing left off is Cancellation.
It apparently is not acceptable to cancel by e-mail or verbally. It is supposed to be done in writing to the agent.
The first contract was sent over by them at 708 pm on 10/23/06. Our counter was sent to them on 10/24/06 at 700am. The counter offer was sent back to us on 10/24/06 at 134pm. This was all done by fax.
On 10/25/06, the agent called my agent and stated that her customers wanted to withdraw their offer. My agent told them they should see the house again. In the meantime, she sent over the completed contract to them. It says on the front of it in big letters ACCEPTANCE.
The next day on 10/26/06, their agent sent the e-mail stating that per our previous conversation, you were told that we were withdrawing our offer and at THAT time, (10/25/06 at 830am) we had not recieved a contract so we are out of it. That is what we are arguing. They HAD received the contract and the e-mail was not recieved until the next day and you CANNOT verbally cancel. Any thoughts?

 

[lcannister]

On 10/25/06, the agent called my agent and stated that her customers wanted to withdraw their offer. My agent told them they should see the house again. In the meantime, she sent over the completed contract to them. It says on the front of it in big letters ACCEPTANCE.

They withdrew the offer because at that point you had NO valid contract. Then your agent IN THE MEANTIME sent over the contracts?

 

[longsally111]

Not quite

Apparently, they were unsure what to do and were waiting for family to arrive in town to make a final decision. That is why it was suggested to them that they see the house again, to help them decide what to do. Their agent also suggested that they could not afford the financing. My agent told their agent that it was too bad she did not check the contingency box for financing and that the financing excuse would NOT get them released.

They signed everything and sent it over, we sent it back. That completes the contract. I cannot believe that a phone call ( which is not an acceptable method of cancellation) where their agent not stated their clients were unsure of their decision could cancel the deal. I guess we will see what the judge says

 

[seniorjudge]

Easy and cheap solution: Find another buyer.

 

[longsally111]

No, Really?

LORD KNOWS senior judge, were trying!!!!!!!!!! In the mean time, I spoke with the SC real estate commission who is siding with me stating that the e-mail was sent the NEXT day which means that the contract was in place and they were back peddling.
They also gave me the web site to pull down information about the ernest monies etc and he told me to give them an official report, they will pull in the agent and broker.

 

[lcannister]

Apparently, they were unsure what to do and were waiting for family to arrive in town to make a final decision. That is why it was suggested to them that they see the house again, to help them decide what to do. Their agent also suggested that they could not afford the financing. My agent told their agent that it was too bad she did not check the contingency box for financing and that the financing excuse would NOT get them released.

They signed everything and sent it over, we sent it back. That completes the contract. I cannot believe that a phone call ( which is not an acceptable method of cancellation) where their agent not stated their clients were unsure of their decision could cancel the deal. I guess we will see what the judge says

Based on everything you have posted here YOU have NO contract!
You are trying to glaze it over but when you send in the documentation you have this person will change their thought process because you are leading them to believe, since they do not have the paperwork they assume for the moment you are right, that you have a VALID contract you do not based on your posts here!

 

[weenor]

Based on everything you have posted here YOU have NO contract!
You are trying to glaze it over but when you send in the documentation you have this person will change their thought process because you are leading them to believe, since they do not have the paperwork they assume for the moment you are right, that you have a VALID contract you do not based on your posts here!

I concur. Offers and counter offers do not a contract make. There must some act of acceptance.