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Seller Accepts Offer & Signs, receives new offer, backs out of 1st deal, is this legal?

We made an offer on a house, which was accepted and signed by the seller. The offer was contingent on inspection and financing. The inspection came back with problems. The seller agreed in writing to repair the problems, but were ongoing discussions around the language and extent of repairs. In the interim, another offer came in. The sellers real estate agent suggested in writing they were going to take the other offer, if the buyers did not agree to the sellers points. A few days later, the seller canceled the transaction. Is this legal in Massachusetts?
Sat Jul 19 2008, 11:14 - Needham - Home Buying - 7 answers
 
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John Fregm...
Home Buyer
in Marblehead
John Fregm..., Home Buyer in Marblehead in Marblehead
Answers (7)
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Susan Wesely was FIRST TO ANSWER
Theoretically it is a legally binding contract and the seller can not back out, but it has been done before. The buyer does have a legal recourse and should consult with an attorney.

Tue Jul 22 2008, 08:50
 
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Hi John,
I am sorry that happened to you. In the future, if you have home inspection items, I like to advise my clients to resolve them with a credit to the buyer at closing. If repairs are left up to the seller, more likely than not the buyer will not be satisfied. With a credit, the buyer can have the work done by people they trust to the specifications they want. No misinterpretation of language. Just make sure you have 3 estimates for the work that needs to be done. You don't want to be surprised by an unanticipated Pandora's box of problems.
Best of luck to you.

Sun Jul 20 2008, 09:55
Web Reference: http://www.JoanneKowalzyk.com
 
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HI again John:

Based on your responce to my answer, it would appear that you let the time frames on the accepted offer as they relate to home inspection items expire. Time is of the essence and if the negotiations of home inspection items run past the dates in the offer you need to agree to extend the time frames or you are out of contract.

Regards,

Rob

Sat Jul 19 2008, 13:12
Web Reference: http://GoodwinRealtyGroup.com
 
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At this point your really need to be talking to a Real Estate Lawyer. You should provide him with all signed documents. As stated in earlier responses, the dates written into these docs are critical. You must have a signed extension to any date that has past in order to keep the deal valid. If you are not using a Buyer Agent, you should consider it from this point forward.

Sat Jul 19 2008, 12:20
 
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The accepted offer had time frames in it. We were one day away from the P&S date.

Sat Jul 19 2008, 11:25
 
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Good afternoon John:

Did you extend the time in writing to resolve the home inspection and move forward to P & S? If not, you are out of contract .

Regards,

Rob

Sat Jul 19 2008, 11:23
Web Reference: http://GoodwinRealtyGroup.com
 
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FIRST ANSWER
Check with your Realtor and/or an attorney. Sounds like you may be out of luck. Did the written notice about the other offer have a timeframe for response in it? Did your PA or your inspection contingency have timeframes in it?

Sat Jul 19 2008, 11:22
 
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