Homepath = fraud? Offer shown as accepted yet asked to resubmit?

[Kevin Rain]

We're trying to buy a Homepath home and it's been a little rough. We would be owner occupants, first time home buyers with 20% down. We made an offer the first day the property was listed, and during the "first look" period. We offered 97% of asking price with 3% towards closing after taking their first time home buyer course (which offers the 3% towards closing if you pass).  Listing agent responds that they will not offer 3% towards closing and will sell for 100% of listing price. We accepted this offer and it was shown as such on the homepath website. The listing agent comes back later and stated that the listing will be going into a multiple offer round and that we need to resubmit our highest and best (after we already accepted the 100% offer).

Has anyone dealt with a similar situation? This seems like extortion of some sort. Any recourse?

[Wayne Brooks]

The "counter offer" on Homepath is Not a counter offer, that you can accept.  It says, this is the price we want, you need to resubmit an offer for this price, and if we then sign it, then i's binding.  There's no fraud here, the agent doesn't have some mysterious buddy, it's just how the system works.  Obviously, someone else liked it at that price too.