Seller backs out of accepted offer

[Ranger56]

What is the name of your state? North Carolina

I made an offer on a property and now the seller is backing away from the agreed acceptance. I negotiated (with Realtors help of course) to buy a home. We offered 118,000 on the asking of 124,800, then they countered with 120,000 and the realtor and I offered 122,000 with seller paying the 3,000 in closing costs. I got a call yesterday (sat 11/12) saying they agreed and accepted. Now I get a call last night (sat 11/12) saying they accepted a higher offer.

Can they just agree and accept an offer, and then continue to negotiate without any responsibility to their acceptance of the original offer?

Any help would be appreciated.

 

[seniorjudge]

What is the name of your state? North Carolina

I made an offer on a property and now the seller is backing away from the agreed acceptance. I negotiated (with Realtors help of course) to buy a home. We offered 118,000 on the asking of 124,800, then they countered with 120,000 and the realtor and I offered 122,000 with seller paying the 3,000 in closing costs. I got a call yesterday (sat 11/12) saying they agreed and accepted. Now I get a call last night (sat 11/12) saying they accepted a higher offer.

Can they just agree and accept an offer, and then continue to negotiate without any responsibility to their acceptance of the original offer?

Any help would be appreciated.

I got a call yesterday (sat 11/12) saying they agreed and accepted.

Without a written agreement signed by both parties, you have nothing.

Q: Can they just agree and accept an offer, and then continue to negotiate without any responsibility to their acceptance of the original offer?

A: They didn't accept (see above); y'all were still negotiating.

 

[Sirena7cs]

It's unfortunate but it sounds like you didn't have that acceptance in writing on Saturday and someone else slipped in. People can tell you anything, promise you the moon, but unless you have an agreement in writing you don't have a leg to stand on. Sorry.

Next time you'll know, especially in a hot market, to get your agent to drive over then and there and get the signed, accepted agreement. Some purchase contracts require that you also have to sign your acknowledgment of the acceptance in order for it to become a ratified agreement.