Legal Question in Real Estate Law in Michigan
We are buying a new home the bank counter offered us and we excepted the next morning they wanted more money, they said they made a mistake.Can they do this. we can not go any higher than what we have already excepted.
Asked on 8/09/10, 2:27 pm
1 Answer from Attorneys
Shelly Schellenberg MI & FL
private practice
The seller-bank does not have to sell to you unless and until it signs a purchase agreement (contract). Until then, you only have an opportunity to put an offer on the property. If the bank's counter offer was in writing (probably not) and you accepted, in writing, before they withdrew their counter offer, THEN you may have a claim because you may have a valid contract. A real estate attorney can review your documents and apply the law to the facts of your case.
Answered on 8/23/10, 7:48 am
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