Legal Question in Real Estate Law in District of Columbia

real estate contract

i recently submitted an offer on a on a foreclosed house. the bank conterred, and i accepted. this was almost two week ago and they have yet to sign the contract and get it back to--name removed--realtor. the contract isn't raified and--name removed--settlement date is 2/23. also, they have also cashed--name removed--good faith down payment. what can i do to speed up the process ? is there anything i can do ?


Asked on 2/06/07, 2:01 pm

1 Answer from Attorneys
Carter Ferrington Bar Adon Vogel PLLC

Re: real estate contract

If, as you say, you accepted (by signing) the bank's counteroffer two weeks ago, and made no changes to the counteroffer, and assuming that the counteroffer was signed by the right person before delivery to you (which is the proper way for a seller to present a counteroffer), you had a ratified contract at the moment you signed it and no further action by the seller should be necessary. If this is the case, you should send the paperwork to your settlement company and prepare for settlement.

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Answered on 2/06/07, 4:13 pm


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