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Real Estate Virginia
We had a contract to buy a house.( Mortgage approved, closing date etc.) We negotiated some final addendum’s,(closing costs etc) seller did not counter on our last offer on the addendum, but instead asked for a release of contract.The seller then said he would accept a “new contract” at what his last offer was. We submitted the “new contract” at his last offer as requested along with a release for the first contract, (as requested), then received word that the seller, decided not to deal w/us. We are floored, we paid for all the inspections, caved in to their last offer. Do we have recourse?
Asked on May 25, 2009 under Real Estate Law, Virginia
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
I am not a VA lawyer but IF you have a binding legal contract for purchase of residential real estate you have the right to enforce the contract as is. If there is not a contract, and you were still negotiating material provisions of the agreement and offering and countering, you have no deal.
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