Is Ethics and Integritty a lost art???

[alleycat]

In this me first , how can I get the most money attitude in today's America causes us to lose sight of the importance of: giving your word, shaking a hand in agreement and now signing a contract. People are using every legal loop hole they can find to get out of a agreement if: a Better one: comes along. In my opinion and that of my realtors once we signed a contract, gave a $3000, ernest chek, sent the contract (also signed by thr sellers.) and sent to that attorney At that time we have bought the house. Barring any soft contingrcies like somethink is wrong with the house or the lawyer wants a change in wording.

We went into contract on a house in NY State last Thursday, we loved the house and wanted it. We offered the full appraisal price with no consessions or givebacks. We spoke to our lawyer and inspector on Frifay And all was signed and set up for this week.

1st thing Monday morning My realtor (SB) lets us know that the sellers agent (KN) had called and they had accepted another offer over the weekend.

By this time we thought it was a done deal. There was no sign of water damage, electric looked fine, We knew it way in good shapr befrore we eveb signed the contract. We got a lawyer ans she was doing the review og the contract. We have an inspection set up for tomorrow.

Now the owners (C&KH) say the don't want to talk to our realtor. They will allow (KN) discuss somethings with (SB) but they are still not committing to either deal.


My lawyer, Realtor and the inspector are all in disbelief, The lawyer says it is "Legal" because the lawyers hadn't approved the contract yet ( they didn't even have a full business day yet). But this is considered Unethical behavior on both the part of the sellers (C&KH) and the agent for them (KN).

I am very upset to have had this happen, it has taken the good feelings off of home buying. It also upsetts me the 2 young NY area professionalls can act in this was and stillexpect to be trusted to be Ethical in any other contract situation.

Am I being unrelistic to expect that a signed contract should be treated as if it is legal and binding. A side from a feeling of loss for the house I loved, I feel a sence of embarrasment because we showed everyone we know and shared our excitment.


So the question to all you business, law, ethics and honest people. Is it ILLIEGAL or just UNETHICAL?

Well this is a disappointment for you. Yes it is legal to not accept a offer on your home or any real estate that you are selling. Is it unethical what the sellers did, the answer would be no it is not. Who knows at what time the other offer came in, it really could have been in before your offer. The sellers do not want to be harrassed over their decision they made that is why they are refusing to speak to anyone. Also please remember they have a realtor to be their messenger. People have realtors for a reason. They take the heat for decisions and are the sellers "agent". Your real estate contract was not binding until the lawyer signed off on it. Which never happened.

Also there is no need to be embarrassed by a real estate deal gone bad. It is nothing you did wrong it is just part of the real estate game. Now my belief is that this was not your house. What is the old saying things happen for a reason. I really do feel that way. As disappointed as we can get when things don't go our way, they happen for a reason.

Now dust yourself off, get going, and get your NJ house cleaned, painted, and ready to show. This just bought you more time to unload your NJ house.
When you are given lemons make lemonade. You will find a better house.