Is my accepted counter-offer binding?

Category: Houses

 

Hi David,

I accepted a counter-offer yesterday as a private buyer and the seller is not trying to say he has a higher offer from a ‘family member’, but we have first dibs if he we want to pay his new higher price of $50K more.  I thought it was binding the minute we accept the counter.  Put the message out to my lawyer, but it’s Saturday, hoping for a little guidance.

The seller’s broker said this is possible…I’m confused!  Thought we bound and accepted it.

Appreciate any guidance


 

Hi Laura,

If you accepted a counter-offer, and you have in your possession an executed Agreement of Purchase & Sale, then the seller can be offered $100 Million, and there’s nothing he can do about it.

The acceptance is binding.

The seller is playing games with you because you aren’t represented by an agent.

Do not back down, if indeed you have an accepted APS.

Good luck!

David.

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