I'm looking for advice on a problem I have.
Last Friday, 3/14, my fiancee and I put in a written offer on a new home. We were told that our offer looked good however the builder would have to approve it on Monday.
On Saturday, we were asked to put a $5000 holding check for the property. We did. The realtor working for the builder then told us that we could flip the signage on the home to 'sold'.
On Monday at 8AM, we got a call from the realtor telling us that our offer was accepted, all we would need to do was secure our loan and sign some documents. My fiancee contacted the lender to start getting the paperwork together.
At 4:30 the realtor called back and said "The 'higher ups' do not approve of the offer and have come back with a counter offer. Would you accept this amount or do you want to counter?" The counter amount was $60k higher than our offer. My fiancee told her 'no'.
Did the builder breach a binding oral contract? Do we have any legal coverage? We are located in California.
Thank you,
Robert
Last Friday, 3/14, my fiancee and I put in a written offer on a new home. We were told that our offer looked good however the builder would have to approve it on Monday.
On Saturday, we were asked to put a $5000 holding check for the property. We did. The realtor working for the builder then told us that we could flip the signage on the home to 'sold'.
On Monday at 8AM, we got a call from the realtor telling us that our offer was accepted, all we would need to do was secure our loan and sign some documents. My fiancee contacted the lender to start getting the paperwork together.
At 4:30 the realtor called back and said "The 'higher ups' do not approve of the offer and have come back with a counter offer. Would you accept this amount or do you want to counter?" The counter amount was $60k higher than our offer. My fiancee told her 'no'.
Did the builder breach a binding oral contract? Do we have any legal coverage? We are located in California.
Thank you,
Robert
