In this me first , how can I get the most money attitude in today's America causes us to lose sight of the importance of: giving your word, shaking a hand in agreement and now signing a contract. People are using every legal loop hole they can find to get out of a agreement if: a Better one: comes along. In my opinion and that of my realtors once we signed a contract, gave a $3000, ernest chek, sent the contract (also signed by thr sellers.) and sent to that attorney At that time we have bought the house. Barring any soft contingrcies like somethink is wrong with the house or the lawyer wants a change in wording.
We went into contract on a house in NY State last Thursday, we loved the house and wanted it. We offered the full appraisal price with no consessions or givebacks. We spoke to our lawyer and inspector on Frifay And all was signed and set up for this week.
1st thing Monday morning My realtor (SB) lets us know that the sellers agent (KN) had called and they had accepted another offer over the weekend.
By this time we thought it was a done deal. There was no sign of water damage, electric looked fine, We knew it way in good shapr befrore we eveb signed the contract. We got a lawyer ans she was doing the review og the contract. We have an inspection set up for tomorrow.
Now the owners (C&KH) say the don't want to talk to our realtor. They will allow (KN) discuss somethings with (SB) but they are still not committing to either deal.
My lawyer, Realtor and the inspector are all in disbelief, The lawyer says it is "Legal" because the lawyers hadn't approved the contract yet ( they didn't even have a full business day yet). But this is considered Unethical behavior on both the part of the sellers (C&KH) and the agent for them (KN).
I am very upset to have had this happen, it has taken the good feelings off of home buying. It also upsetts me the 2 young NY area professionalls can act in this was and stillexpect to be trusted to be Ethical in any other contract situation.
Am I being unrelistic to expect that a signed contract should be treated as if it is legal and binding. A side from a feeling of loss for the house I loved, I feel a sence of embarrasment because we showed everyone we know and shared our excitment.
So the question to all you business, law, ethics and honest people. Is it ILLIEGAL or just UNETHICAL?