Legal Question in Real Estate Law in New York
We put an offer in on a home. It was accepted the same day. Two days later we were informed that there was a previous offer that we were never told about. Now they want us to counter offer but we were already under the impression that we were the only bidder. Shouldn't we have been informed before we put an offer in that there were other accepted offers? Now we have already begun the steps to move and might not get this house! What happens now?
2 Answers from Attorneys
Unless you have a signed binder or contract of sale, you have nothing enforceable. If you have the acceptance in writing, you can sue for specific performance.
Do not let the brokers play this game. It's the oldest scam in the book. It's unethical to take an offer and not disclose the earlier offer; but I can tell you from experience that there is less than a 33% chance that there is another offer.
You can make the broker's day by reporting him to the Secretary of State's office. Mention this to him and see how quickly that other offer falls thru.
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