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Can a seller cancel your bid and take another before the mortage commitment date?

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joyc83 Joined: 07 Aug 2011 Posts: 1 1.31 Dollars($)	Posted: Sun Aug 07, 2011 12:54 pm    Post subject: Can a seller cancel your bid and take another before the mor Like 0 Dislike 0 I have a contract to buy a home. Was preapproved by Quicken loans for a FHA mortgage. After 3 weeks of the run around from them I was informed I was denied (I was told it was "a judgement call" by the underwriter) I proceded take out a home equity loan on my present home to purchace the new home but before I could get my commitment letter to the seller I was told they accepted another bid. Can they do this before the commitment date?
adonis Joined: 22 Oct 2005 Posts: 10574 Location: ALASKA 1090.82 Dollars($)	Posted: Sun Aug 07, 2011 8:57 pm    Post subject: Like 0 Dislike 0 Hi joyc, I don't think so. I will suggest you to contact a real estate attorney and take his opinion in this regard. He will go through the whole situation and let you know what actions you should take. _________________ Procrastination is the enemy of your financial success

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