Attorney Ranj Mohip is a Chicago real estate attorney. The information in this answer is general information and is not intended as legal advice. Further, answering this question or otherwise contributing as a member of Trulia.com does not create an attorney-client relationship. Remember--consult the best real estate attorney in Chicago or in your respective area.
We were told our best bet would be to try and contact the bank (Bank of America), and let them know we had an offer. Our attorney says he will handle everything but that without a signed contract, there is nothing he can do.
We just need to know if there is any way for us to buy this house, or is there nothing we can do?
Either your agent or the listing agent would be in the best position to track down the lenders and see what may be done. Chances are that the bank will just go through the process and eventually put the house on the market. Banks aren't terribly good at changing direction on short notice or doing what would make the most sense. They are more process driven than outcome driven, which drives most of us nuts.