And to the agent that replied in MD, procedures are different in New York. We are an attorney run state. They draw up the contracts, etc. There are no binders here. Contracts can take from 1-2 weeks to be fully executed going back and forth. An accepted offer has no legal binding to either party. Only a fully executed contract.
Tizzy, on the other hand, how would you have felt if the person who made an offer on your apartment, which you accepted, never went to contract with you because they looked and found something they liked better? This is a very stressful time for both buyers and sellers. Take heart and let the seller know that you are still looking. Also, there is no such thing any more as first accepted offer. If you are not in contract, they can sell to someone else. Are you willing to risk losing this house while you look at others, and wait for you offer to be accepted on them?
You are at risk of losing your deposit should you not proceed with a sale.
The realtor - although they gave you incorrect information - is looking out after your best interest.
If you are not committed - you have to ask what it is about the property that is lacking.
But, you need to bear in mind the following:
1. Even in this market, many buyers have eyes that are bigger than their wallets. If what you really, really want is something you can't afford, you will need to settle for less and make the best of it.
2. There is no perfect home. Constantly looking for greener pastures means that you will never settle on a property.