For more detailed information I strongly recommend you contact a real estate attorney that has experience in these matters. I highly recommend Chuck Levin of Needham. His website is: http://www.levinlawoffice.com. He has come to our office on several occasions to discuss this topic and how we should advise our clients of the potential risks. I always recommend that my clients discuss the issue with an attorney so they understand the issue.
Please let me know if I can be of further help.....Karen
Signed contracts are legally enforceable. If you only had a verbal contract it is also legally enforceable, but almost impossible to prove in court.
If you had a realtor working with you ask them WHY this could happen. If not, talk to that lawyer, they may tell you that you lost. They may say something very different. Good luck.
I hope you have the same luck as my clients experienced. Best wishes, Jessica
I have seen that happen with Bank owned properties but usually not with a regular sale.