Buying a foreclosed home cash

We submitted a 20,000 offer on a house on september 7th, they countered at 23,000 and we excepted. the sale was contingent apon our inspection, wich was being done for our own peice of mind. We had a closing date of september 25th. we had 7 days to get it inspected. We had our inspector come out yesterday September 11th. we didnt really find anything we didnt already know. Now the bank is trying to rebuttal there offer of 23,000 to 33,000. we had already offered, they countered and we excepted. closing date and everything. even put the little flags up to show property line. Can they leagally do this? Im no realtor or a lawyer so im not sure, but it doent sound right to me.
Hyperhuskypuppy
Asked Sep 12, 2012
If you aren't a lawyer, you need to hire one if you have an acceptance in writing.
Rob
Answered Sep 12, 2012
i have a lawyer. Well its my dads lawyer. I just wanted to ask on here if anyone knew if this was just somthing that happens sometimes in realistate. but like you said I had an acceptance in writing. we offered, they countered, and we excepted. shouldnt that be a done deal. how could they legally do this? I just wanted to see if I needed to get my lawyer involved of if im just out of luck.
If they allowed you to spend your money on a home inspection, produced an acceptance of your offer and scheduled a closing, I wouldn't call it a "done deal" but you have a good case in my opinion. What's the purpose for going through the offer and counter-offer process if it's meaningless? I'd talk to the lawyer.
Rob Sep 12, 2012
Thats exactly what I was thinking. if they wanted 33,000 that should have been there counter from the get go. why counter 23,000 and then ask for more. ?? thanks so much for just the little you have told me. This is my first house so im pretty clueless.
Life was much simpler back when, "a man was as good as his word."
Rob Sep 12, 2012
Definitely retain an atty. My husband and I have bought a few foreclosed homes (to renovate and rent) but haven't had this happen before. I hope things go your way!

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