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post #11 of 12 Old 02-25-2013
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Re: Looking for some perspective

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Originally Posted by rugosa View Post
The way I'm reading this is there was an offer conveyed but still in negotiatons over closing date and changes . . . on 2/6 you received signed Agreement from the buyer (you are the buyer, do you mean from the seller?) with changes (counter offer?) which you did not acknowledge (accept?). Sounds like you did not have a binding accepted conditional offer. Most negotiations have irrevocable dates at which time the offer becomes null and void. Did that time pass? If so, the seller would be at liberty to negotiate and accept another offer. Can a SN lawyer step in to clarify?
I'm also confused by buyer vs seller, and agree with Rug's thoughts about no binding offer.
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post #12 of 12 Old 02-25-2013
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Re: Looking for some perspective

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Originally Posted by AE28 View Post
I'm also confused by buyer vs seller, and agree with Rug's thoughts about no binding offer.
The normal procedure would be:

-Purchase agreement with offer amount and terms signed by buyer (normally w/deposit)

-Contract is then signed by seller agreeing to purchase price and all conditions of sale (usually survey, inspection, and sea trial).

-If the deposit clears escrow, the SELLER is bound to the purchase price and conditions of sale until the timetable runs out or the BUYER chooses to not proceed with purchase or fails to deliver final payment in time.

Again I would fault the OP's broker if new conditions were put into the contract he had already signed without his knowledge or verbal agreement. He has every right not to agree to the changes, but without his agreement, the contract would not be binding and the owner can sell to someone else.

Sounds like big communication failure between the two brokers.


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