An area Broker send me a letter regarding an offer their office wrote on a listing of ours.
Long story short, during the transaction verbal offers and verbal counters were made and discussed. While this was going on a written offer came in and the seller decided to accept it without countering.
In the letter this Broker sent to me, the Broker expressed their disappoinment and wanted me to know that a verbal offer/verbal counter are legally binding.
In a word, No. I would hate to imagine the problems that would cause were it true.
Be sure when buying or selling a home, you have your agent put everything of importance in writing, even if your broker or agent tells you different.
Related Florida real estate views:
Make sure you review an estimated proceeds document before signing an offer to buy your home
Do I still have to pay a commission if I list my home but then decide not to sell?
Success school: Contracts and Addendums
- Greg Staker Watson Realty Corp. 407-304-0255
3 comments:
I believe a verbal offer is infact binding. The purchase sale contract however must be in writing.
Hi Allison, thanks for visiting and commenting.
First let me say I would suggest to any buyer or seller concerned with contract law to seek the professional opinion of an attorney.
Binding may have been the wrong choice of words. Real property contracts must be in writing to be enforceable would be a better.
I am not sure how a verbal offer that cannot be enforced would be considered binding?
(deleted first comment because of typos)
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