Do I have legal recourse for accepting an offer on a property and having that offer deleted?
Question Details: My husband and I placed an offer on a foreclosed home. Fannie Mae countered that offer. We accepted Fannie Mae's counter offer and waited for escrow to start. A week later the real estate agent who has the listing for the home explained the bank would accept our offer but was compiling documents needed to close escrow. Later, the same agent explains that our offer had mysteriously been deleted from his system and that in the meantime he had submitted another offer to the bank. We are now being requested to submit an offer again with risk of losing the house. Is this legal?
Real Estate Law Answers
I would need more details to give you any kind of definitive answer on this. I don't understand what the agent's system would have to do with your offer and acceptance. I'm also not sure what it means that "the bank would accept" your offer, nor does the comment that the bank "was compiling documents needed to close escrow." None of that is consistent with a normal offer/acceptance process for a real estate sale. I would also need to know if you were working with your own buyer's agent, or if this was the only agent you were dealing with. It sounds like the agent may be playing fast and loose with his obligations, to the point where you may have recourse against him if you do not get the house. But without more and clearer information I can't say for sure.
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