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Lucy, Esq.
Lucy, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 27194
Experience:  JA Mentor
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Hi I put a bid on a house and the seller agreed to the terms,

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I put a bid on a house and the seller agreed to the terms, then I went to the real estate office put $500.00 down and signed contracts. I was in the process of working on a loan from the bank took an extra two weeks, but all went well. I went to the bank to submit final paper work and they told me the house was sold to someone else. Is this leagal?

My name is XXXXX XXXXX I'd be happy to answer your questions today. I'm sorry to hear that this happened.

A signed contract for the sale of real estate is binding on the parties. However, there are often contingencies in the contract that would allow the parties to cancel. Look at the contract carefully. If it required that you produce funding by a certain date, and you did not obtain an extension, then the contract fails and is not valid. If the seller agreed to give you additional time to get the money, then he cannot sell the property out from under you, and it may be possible to sue for damages.

If you have any questions or concerns about what I've written, please reply so that I may address them. It's important to me that you are 100% satisfied with the service I provide. Otherwise, please rate my service positively so that I get credit for answering your question. Thank you.
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