My nephew got his offer $59000 approved for a foreclosure home. Seller sent sale of contract papers to him on July 29 2012. Today(Aug 3rd) my nephew called seller company to get direction so that he can submit sale of contract and earnest money. He was told that sale of contract was expired on August 1st and he has to resubmit the offer and would release new contract papers within a day or two but no guarantee that the property would go to him( also seller mentioned same in the email to real state and now forwarded to my nephew). Sale contract did not mention any date of expiration or any deadline for buyer( my nephew) to respond. Even seller did not notify on Aug 1st to my nephew that contract was expired but he came to know when he called sellers office today for direction. Is seller violating the property sale laws?
I can't tell you if he has a valid contract or not without reading all of the documents that went back and forth between him and the bank. As a practical matter, he has no choice but to follow the seller's directions and re-submit his bid. There is no law violation by the seller, and to take the matter to court in a civil suit would cost more than it's worth.
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