Dear Monty: Our offer was accepted after the first buyer backed out because they didn’t like the inspection report. We have already signed the contract with the seller and transferred the earnest money. The original buyer has resurfaced and wants to continue where they left off. The seller sent a mutual release to the first buyer, who never signed it. Our agent says we have the right to move forward, but the other agent says they are ahead of us. What is your opinion?
Monty’s Answer: A real estate company’s worst fear is having two accepted offers on the same property. Real estate companies are obligated in every state to treat all customers fairly. This rare event can and does happen. There are no excuses in this situation. The listing agent will have a difficult time finding someone else to blame. Even with a rational reason, the company is ultimately responsible for the acts of its agents….