Furious! Seller accepted another offer!

::Edit:: the subject line should be "Seller entertaining another offer" and not "accepted."  Still furious though! 


 


 


 


I feel so stupid and naive... 


I'm a first time homebuyer and after months of searching, I finally decided to bid on the perfect house.   After multiple counteroffers, I finally agreed to the seller's price this past Thursday.  I signed the contract, and my realtor was prepared to present the contract to the sellers. 


Just a couple hours ago today, I got a call from my realtor stating that the seller received a higher offer and asked if we could beat it!  Are you f'ing kidding me? 


I didn't know that the seller could actually accept any other offers after accepting ours!  


I guess mistake number one was not having the offer on paper.... but when I asked my realtor this, she said that nothing could have prevented this from happening and that the seller had until attorney review to accept any other offers!   Is this a lie? 


Mistake number 2 may have been working with a "dual" agent...  I should probably look into working with a buyer's agent. 


Mistake number 3 was celebrating prematurely... lol...  never again will I get my hopes up until everything is signed and agreed. 


 


Has anyone experienced this before, or can offer any advice?   I feel so cheated...  


 


 


 

Posted on February 12, 2012 at 10:31 am
gadams
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apm2012
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apm2012

That sounds awful!! I have never heard of this or thought it was possible so I can't offer much advice there. Just try your best to stay positive since the seller has not accepted the other offer. Hopefully it will work out in your favor.

Posted on February 13, 2012 at 8:22 am
daluvelynic
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09/02/2012
daluvelynic

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daluvelynic

I do know because you had nothing on paper that the sellers could entertain other offers. So see your Realtor should have made you get it in writing. I'm sorry you lost this house,but you will find another one that you love just as much or even more!!

Posted on February 13, 2012 at 8:52 am
gadams
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gadams

Thanks for the encouragement, ladies. 


I did some research and apparently this is absolutely acceptable in New Jersey (where I am househunting), and a couple other states.  Even after agreeing on an offer, the seller or buyer can back out for any reason and at any time prior to the final attorney review date.  Ridiculous. 


 


 


 

Posted on February 14, 2012 at 12:16 pm

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