Legal Leg To Stand On?

I have the following scenario and would like some imput (HELP) from seasoned professionals:
This property has been on the market for five (5) months with no activity. RE Agent said I was the first showing.

Fannie Mae (FM) Foreclosure listed @ $86,000
Retail Value - $105,000

Monday- I offer $65,000
Wednesday AM- FM rejects offer and counters at $79,000
Wednesday Noon- I resubmit offer for $71,000
Wednesday PM- Contacted by RE Agent and told that FM accepted my new offer. Set up appointment for Friday PM to sign Agreement.
Friday Midday- RE Agent calls me to tell me that she made a mistake and that FM did not accept my offer. She indicated that they (FM) have a new computer system that is very confusing. She misunderstood the reply from them. She said that because of her screw up that I had to resubmit my last offer. She had been in contact with FM by phone about this and they told her to have me resubmit the same offer again, which they would reject but would counter offer again. This would have been fine if everything was done today and we got an Agreement in place; however, by the end of the business day, there was no reply from FM with a counter offer.
The problem I have is that the RE Agent then told me that she has two (2) showings on this property this weekend. This is bizarre because there was no activity for so long; and now a flurrie of interest…go figure!!!
What if one of these guys put in an offer over mine? Do I have a legal basis to fight for this property? I was currently in negotiations with FM and would have worked this all out before the other showings.
How do I handle this? Please advise. And thanks for any HELP…
Rob

Howdy Rob:

There was no meeting of the minds between you and FM, no contract signed or accepted. Dealing with FM, VA HUD is hard and they all have had new computers, managers, etc. They change prices that they will take from time to time. I offered $11900 once on a duplex and was told they would not accept it but wait a few days and after they lowered the price again they could take my offer. There too was another offer at a higher price but low and behold they disappeared. It is like a chess match, you move they move and you move closer and either win lose or draw. You do not have a legal leg to stand on and if you did I would advise not fighting the govt, you do not have enough money.

As Ted said, no contract, nothing to fight for.

As to no activity, then BOOM! Showing like crazy! That’s just real estate. Sometimes, just one person showing an interest in a property is enough to make someone else look.

Hey, Ted. I’ve got a better story! I made an offer on a HUD house which was rejected and two days later, they reduced the price $1000 BELOW what I had originally offered. So, I was very pleased when they accepted my now ‘full-price’ offer! HAH!

Raj

Many thanks to all for the input…
Rob

a lot of places “hibernate” in the winter months. around february-march these places pick up. that might account for the lack of activity