Real estate law
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Real estate law
I submitted an offer on a house here in California, my offer was accepted and I signed and gave my deposit of $7000!I met with a home inspector two days later and everything was good till I got a call from my agent telling me there was a problem with the property, the selling agent’s assitant called him and told him there was a previous accepted offer on the property and was suppose to be cancelled! Come to find out the escrow was never cancelled and the house was still in escrow and the buyer is in nagotions with them. Apparently the house didn’t appraise for what they offered.
Asked on June 15, 2009 under Real Estate Law, California
Answers:
B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
I would recommend that you hire a lawyer in your area, to represent you in buying a home, whether it ends up being this one or not; he or she can start by resolving the situation you're in right now. Many, many times, you'll find that the legal fees are much less than the cost of a mistake, when it comes to real estate. One place to find a qualified attorney is our website, http://attorneypages.com
This was somebody else's mistake, and not yours. So you should not end up out of pocket. Unless you become the contract buyer, you should get your deposit back, very quickly, along with what you've paid or have to pay the home inspector, I'd guess.
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