Thanks for everyone's responses. We got the house! More importantly we got it for significantly less than the competing offer. We did, in fact, get the signed and executed counteroffer to the listing firm BEFORE expiration of the counteroffer, before they could revoke, and before they accepted another offer. We consulted an attorney, relayed our attorney's opinion up the chain, and everything worked out perfectly. We got the home we wanted, at a price we wanted, and the seller got a non-contingent contract.
Thanks for everyone's assistance. You all certainly gave GREAT advise! - Tue May 6 2008, 13:33
MVPs or 'Most Valuable Players' are key Trulia Voices members who have been contributing high-quality content throughout 2008 and providing valuable advice to consumers and real estate professionals.