HELP!!! This is my first post as well as my first real experience in the purchase of a home. I am going to try to make this as clear as possible. I recently put in a written offer to purchase on a home that is involved in an estate. My real estate agent presented this to the sellers agent. The seller countered with a higher selling price. We accepted the offer over the phone as we live over 300 miles away from the property in question. The seller's estate attorney made the changes to the initial offer to purchase and signed it. The contract was then delivered to us to initial via email. As the contract was being sent back to them, the seller's agent emailed us saying the counter had been rescinded. Apparently they have received a higher offer. From what I understand, once the counter has been signed by the seller and "communicated" to the buyer, it then is a valid contract. Is this correct? Can I sue for non-performance? Or can I litigate to prevent the sale of the house in the mean time?
We are devastated. We have already been approved for the mortgage. I really need some advice. PLEASE.. anyone??!! HELP!
Thanks c. vilnev