Asked by Mrero A. Mgeni, Leominster, MA • Fri Aug 22, 2008
offer on a short-sale home. The sellers came back with a counteroffer of full price. Knowing that it was still a good deal for us, we accepted the counteroffer and essentially offered the listing price for the home. The offer was accepted, and was now going to be submitted to the mortgage company along with other shortsale paperwork. We are now in August and while inquiring of sellers' agent about where things stood with the transaction, my agent was today informed by the sellers' agent that in addition to short sale documentation not being quite complete, there are 4 offers along with ours that essentially the bank is considering, even though the sellers OFFICIALLY accepted our offer. I'm thoroughly confused here. Is there a legal basis for a seller (& his/her agent) to continue to entertain and accept other offers after they have OFFICIALLY accepted mine? I have not even broken this latest bit of news to my wife. She will just drop dead. Please help!
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