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I haven’t seen you address this. Does accepting the seller’s counter offer equal a binding contract? As soon as this home was listed, my agent scheduled a viewing. We loved the home and my real estate agent wrote an offer that evening. The next day, the listing Realtor® emailed my agent a counter offer. Because this was a divorce there were attorneys involved and the listing agent stated the sellers would not sign until after we signed the counter offer accepting their changes. He said the sellers didn’t want to pay their respective attorneys to review the counter offer if we didn’t agree. We signed and my agent returned it to the listing agent. An hour later the listing agent said the seller received another offer and now they wanted to issue a multiple counter to both of us. We were so upset we passed on the house. It seems like this should be a violation of the code of ethics or something. I feel as though time is a buyer’s worst enemy, what are your thoughts?
Buying a home can be such an emotional rollercoaster and I am sorry this happened. You have sadly learned that during the offer negotiations, time is a buyer’s worst enemy. Unfortunately, the sellers had not signed your counter offer and verbal real estate contracts are not binding. Verbal real estate contracts are not enforceable.