BEST ANSWER
According to NYS DOS, if you had placed an "offer" in writing, it is not a "contract" until it is accepted AS IS by the seller, signed by them AND returned to you as such. Basically signed, sealed and delivered. If the sellers had made any changes, such as negotiating price, closing date, etc., they cannot change terms, sign and deliver to you to make a contract, obviously; you would need to initial and deliver those changes to the seller before it is contract.
Another item is the "life of offer" where you stipulate how long the offer you have placed is "good" for. Technically, if the offer is not negotiated, signed with changes initialed and delivered by the date and time stipulated, the offer has expired and has not become a contract, and is not legally binding.
So the question becomes, did you place an offer and was it accepted, signed and delivered? If not, you have no contract, just an offer that has not been accepted, unfortunately.
I really hope you have a buyer's agent working on your side.
Good luck!
Tue Jul 7 2009, 19:40