• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Seller backs out of accepted all cash offer

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

primetime77

Junior Member
What is the name of your state (only U.S. law)? NY
I have an accepted offer on a property that I am buying.. I sent in the signed and notarized contracts along with a 10% bank check. The seller sent the check back and then after some time, said I have to resubmit an offer, that there are are other buyers wanting to submit offers. The broker then sent me a multiple offer form late on Friday and to get my new offer in by Saturday 9:00 AM the next morning. Do I have any recourse against the broker and can I ask for "specific performance" from the seller based on the accepted offer even though they sent the check back?
 
Last edited:


tranquility

Senior Member
It's good you started your own thread, but WHO made the OFFER? From your description it seems the seller. That seems unusual. Often it is the buyer who submits an offer and also puts down some money to show he is serious. Please describe the process you took in more detail.
 

Stephen1

Member
OP's description sounds to me like the 10% check was the earnest money, which in my experience is written prior to the offer being submitted and accepted. So, what was the 10% check. Was it the earnest money? And what makes OP think that the offer was accepted? Was anything signed by both parties agreeing to the terms of the sale?
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
Top