When is an offer on a house a contract?
Dear House Lawyer: My wife and I are in the process of buying our first home. On a Monday, our licensed real estate agent prepared our offer using the local standard residential real estate contract. We completed all of the blanks, initialed where indicated, signed all documents and delivered the offer, along with our $10,000 earnest money deposit check, to our agent. He delivered the offer to seller’s real estate agent in person. The list price for the home was $400,000. Our offer was for $350,000. On Wednesday, the seller’s agent e-mailed the seller’s signed counteroffer agreeing to sell the home to us but changed the price to $375,000 and inserted a clause stating that the home gym equipment would not be included.Click here for full article
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