Real estate auction gone wrong

[Mike Bell]

Looking for advice. I went to an auction yesterday. Got a great deal on a house, I was the only bidder. Got the house for 280k plus 5 percent to the auctioneer for a total of 294k,which is what the auctioneer said the minimum the family would accept. I wrote them a check for the 10k deposit and signed the contract. Sellers are out of state so the contract had to be mailed to them. Today I got a call from the auctioneer. He stated a real estate agent called and had a cash buyer lined up at 350k and wanted to know if I had any interest in selling it to them. I said yes. Three hours later the auctioneer called me back saying he was in a bind. The new buyer was in town and was ready to sign a contract for 350 and close on December 14th. Here is where it went south for me. The auctioneer states that since the sellers had not yet received the contract and signed it. That it was not official even though they agreed to sell to me the day of the sale for 280k. My 10k check will not be cashed. But now I’m out of the picture completely. Is there anything I can do in this situation ?

[Peter Mckernan]

@Mike Bell Yeah, I agree with @Mark Davidson clear everything through an attorney, and confirm that for sure! 

The whole thing seems not completely fair, and I understand that the contract was not signed by the seller, there needs to be some clarification on the EMD you put down of $10K, and also when another offer can be presented and accepted. Also, when that offer is presented and accepted the $10K should be refunded since you were not the winning bidder.