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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 116715
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
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I places a all cash bid equal to the asking price on a house

Customer Question

I places a all cash bid equal to the asking price on a house listed in Merritt Island, FL (SKEY #49558). Approximately 2 weeks later a Texas real estate firm placed a bid at $1,500 less than the asking price, 50% cash, 50% subject to bank approval of a mortgage. I was told that this was a short sale, with the net proceed scheduled to go to the bank.
I recently learn that later-submitted, below asking price offer was accepted over mine. My real estate agent has both called and written the owner, but has been given no responsive calls or emails and can not explain why the seller is taking an inferior bid.
Do I have any recourse under Florida law? Can the closing sale be stopped? Do I have any right to some explanation? My last name is Perez. What if that is why they are rejecting a superior offer (though with no explanation I have no basis for alleging racism as the motive)?
Ben. Perez
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
Legally, until your bid was accepted, the buyer has a legal right to accept any bid. Under FL law, the buyer can accept any bid for any reason other than based on your age/race/sex/disability/national origin/family status. So, unless you have proof that some unlawfully discriminatory reason was the reason for not accepting your bid, legally the seller was free to accept any offer even if it were for less. FL law does not force someone to accept a bid even on a short sale, so you would have to prove the unlawful discrimination, then you could sue to stop the sale and for damages under the Fair Housing Act.