I think it's great that you stood your ground, and hopefully your deal will work out in your favor.
You submitted an offer, you got a counter from the seller and you accepted it. You thought you had an agreement but the seller says differently. What can you do? I suppose you can see an attorney to enforce your rightsâ€¦if you are right. But attorneys cost money. In your case, it may be more economical to offer a higher price for the house than to pay an attorney to bring an action that may or may not be settled in your favor. If you make a higher offer and you get the house you get the added benefit of getting the house. I know that sounds like I am repeating myself but isnâ€™t that what you wantâ€¦to get the house? It would be nice to get it for less but that doesnâ€™t sound like that is going to happen.
Many buyers in our area are challenged by situations similar to yours. Even when the situation is not similar to yours, they are challenged. It is a strong sellerâ€™s market when it comes to REOs in our area.
Good luck. I hope you get a house that is right for youâ€¦whether it is this one or another one.
BTW, the 1% is your earnest money deposit. It will be applied toward your down payment once you are in escrow.
Why can't I put out multiple offers on mutliple houses, yet the bank can send out multiple counter offers to multiple people?
It doesn't make sense. Can someone please educate me. My agent acts as if he's dumbfounded by it as well.