Posted by BTI on June 16, 2006 at 13:41:52:
Doesn’t matter what state your in this is basic contract law. You say the sellers rejected your offer and countered, but you don’t say clearly that you accepted their counter, if you didn’t then there is no contract, if you did then there is a contract.
Now is part two, did you have a inspection contingency in your contract to cover yourself, if you did and the property is not acceptable you have no problem unless there was something like a time limit that you failed to meet.
No inspection clause, then you must count on material facts the sellers failed to disclose, or misrepresented and if that doesn’t apply your out of luck unless you can use some other contingency clause such as financing, e.g. home fails to appraise high enough because of it’s condition and you can’t get the required loan amount.