From: acarch494@gmail.com
Newsgroups: misc.invest.real-estate
Subject: opening escrow
Date: 6 Mar 2007 23:09:22 -0800
   posting-account=Db7Cfw0AAABieMaH1m9sb15YKjzcf2jV

I entered into a sale contract on a property  in california for a bank
owned foreclosure . the bank sent me a counter offer to which i
agreed. With my realtor's advice we did the home inspection prior to
the final acceptance offer from the bank. the home inspection revealed
some defects with the house hence we decided not to go ahead . no
escrow had been opened at this point . the inspection was done on a
weekend and the sellers agent(in this case the bank's agent) was
notified over the phone  before the next business day. in the meantime
the bank send the final acceptance to my agent. do we need to open
escrow though we are not interested in the house . can the bank hold
us liable for failing to open escrow upon their acceptance. is there
any kind of breach of contract on our part. please advise -- AC