BTW, I would probably couch my last offer is they could possibly be liable for the commission. Your offer presumably was contingent on inspection and financing, and that might allow them an out. It would depend on your MLS rules, and also the fact that they breached possibly prior to those items.

Also note that if it still is subject to inspection, you're basically probably in a take it or leave it mode, because if you ask for anything they could just say no.

ok Kary, they didn't initial directly next to it, I understand what you are saying now.

You all are making us feel more comfortable on our stand. Thank you!!!

One more thing. Assuming it was a binding contract, your agent is most likely entitled to their commission. Pointing that out would probably get the seller and listing agent back on board. That commission is probably larger than the consession.

Rick, what I meant by initial the item was to have them initial not only the bottom, like every other page, but also put their initials near the term showing the concession. Very few agents do that, but it does help show the item was brought to the seller's attention. You don't have a situation where the listing agent says it was pointed out and the seller denies it. Well you might, but the seller would most likely lose that argument.

First, have your agent consult her Broker and a Real Estate Attorney, if needed. There are a few important points to consider. Mutual acceptance is when all parties agree to all terms. When there is a counteroffer it is a new offer and makes the original offer void. If ALL parties signed/initialed AND dated on every single page of the Purchase & Sale (including the legal description dated before Monday - "the dispute day") but only countered on the price then this is the seller's new offer. If the sellers initialed and signed by the price and faxed it to your agent and you signed and dated next to the price then you have mutual acceptance ONCE THE COMPLETE SIGNED AGREEMENT IS SENT AND RECEIVED TO THE LISTING AGENTS OFFICE (not home office -- where the license is hung) then you technically have mutual acceptance. It is not your fault that the listing agent and sellers did not understand the entire contract before countering. Consult an attorney, but from what I read it sounds like you have mutual acceptance. The seller's cannot send over a rescission form at this point. You can only rescind BEFORE mutual acceptance. The time frame to make changes is waived at mutual acceptance. So, be thoughtful of their position in further negotiations, but they have to preform as agreed. Good luck!! Cheers to buying a great place!

I did look at the offer, the page asking for closings WAS indeed initialed and dated at the date of the offer. The fax headers on the top of the page show everything was done ahead of the timeframe allowed to respond to or accept their offer. Our Realtors broker and attorney said all of our papers look good, but they are still trying to back out. Apparantly they have 3 realtors total as they are in a different location, and they all claim they just missed it because of the new forms (that have been in use since august). We are contacting an attorney today.

This counter was final on Saturday, sold sign went up Sunday and yesterday was the day they were trying to pull out claiming they had a 3 day cooling off period.

I'd agree with Don.

You might also get the listing agent to Google "lis pendens" and then look at the Wikipedia entry. Assuming you accepted their counteroffer without any changes, and properly delivered it, the agreement should be enforceable, assuming no defects. One common defect is no legal description. If that is missing, you're out of luck. And attorney should be consulted to review the matter.

BTW, a practice pointer. When we represent sellers we always have them initial the item for seller's contribution of costs so that there's a good record that they knew about it. People do honestly forget about things, and the last thing we want is a seller getting to closing and claiming they never knew of the contribution. The agent in this case is really in a bad situation because if the buyer forces this thing through, the seller will blame the agent. Perhaps that is where the blame belongs--it's impossible to know from this post--but by getting the seller to initial the item it is clear the agent pointed it out at the time of presenting the offer, AND it's less likely the seller will try to back out at the end if they don't like the net number they are receiving or otherwise have seller's remorse.

Rick
This is the time that you want to get a legal opinion before proceeding. It would appear that if you accepted their counteroffer with no other changes, initialed this offer and it was faxed to the listing office within the time frame that the sellers cannot back out regardless if they did not notice that you had asked for closing costs but I would certainly contact a real estate attorney in your area, fax them a copy of the contract and see if this is correct. Understand if this is correct and your building inspection shows that work is needed to the property that seller is not obligated to do anything on the building inspection.
Mary

You appear to have an enforceable contract if you can document delivery of the original signed counter offer back to the seller or listing agent within prescribed time frame. If the seller persists in denying their obligation to sell to you you should hire an attorney.