how long does it take once contract is submitted for an offer? i submitted a contract 6/08 and the owner

Asked by Cc, 21701 Wed Aug 20, 2008

told me this week that the realtor has now accepted more offers. is this legal in maryland. didn't i have a right to be informed of this?

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Cc, , 21701
Thu Aug 21, 2008
also teh house still shows active, not under contract
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Cc, , 21701
Thu Aug 21, 2008
the contact was signed off by me and the seller in june. of course we cannot reach the seller agent, at all. i'm sure he knows that the owner has revealed there have now been more contracts. ihave even left a mesage wth the manager of the realty company selling the property.
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Jeanne Feeni…, Agent, Basking Ridge, NJ
Wed Aug 20, 2008
Hi Cc, Lisa has asked some good questions to help clarify just where you are in the process. If your offer was accepted by the seller, with both parties having signed off, and attorneys have blessed the documents (in New Jersey we have an attorney review period, often lasts around 3 days), then you are under contract and any new offers coming in should be viewed as back up offers which I would direct right to the seller's attorney.

If on the other hand, you submitted an offer on 6/08 and it was not accepted by the seller and you are not under contract, then you and the seller have no contractual obligation to notify or perform.

Clarify a bit and we can be more helpful.

Jeannie Feenick
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voices member, , 21117
Wed Aug 20, 2008
I am not understanding your question. The words "contract" and "offer" are often confused. You first make an offer and once all parites have agreed on all terms and everything has been signed--you have a ratified contract. At this point, unless there is a breach of some sort the seller cannot accept any other offers. Unless there is something I am not getting--if you had a ratified contract and have abided by all deadlines, etc--the seller is in breach if they now decide to take another offer. But since I am not a lawyer--you may be best off running the scenario by one who can best advise you.
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