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  1. #1
    Join Date
    Mar 2006
    Posts
    2

    Default Is a verbal agreement binding

    My wife and I had Info that her home she grow up in maybe going up for sale. The family that was selling, was at the home on Saturday. So we go by to talk we them to see if they put it on the market. The brother and the sister was moving their fathers things out, who is in a nursing home. We talk, they say it is not on the market yet but if we are interest please let them know, we did. We said we will be back on Sunday with my uncle who is a realtor on our behalf not as a realtor. They agreed that will be ok. We leave and down the street and talk to a neighbor maybe 10-15 minutes, we go back past to go home and we see a realtor sign in yard. We go back in talk to the sister she says they didn't sign anything with the realtor. Sunday I call sister, she has the brother call me back he said he signed with realtor a week ago but he wasn't really sure if he signed anything. I go look at the home with my uncle he said make offer 14,000 less than price. So I call the brother back and we agreed on 10,000 less. But my uncle said that he needs to go thru with the posting realtor. The seller agrees and my uncle fills out the paper work at his office were I was aproved. And my uncle talked with the posting agent and the posting agent wanted my uncle to step aside. My uncle said he is not going to do that. So we come to terms and I sign all the paper work give a good faith deposit and take it over to the sellers realtor. Seller was going back to CA so paper work would have to be faxed. No word Monday, Tuesday on Wednesday my uncle calls and says the sellers realtor sold the home to a higher bidder. Was this legal of the sellers realtor? Is this verbal agreement binding? Sorry for the long post.

  2. #2

    Default

    Sounds like what you made was an offer. It is not binding until accepted in writing by the owner.

  3. #3
    Join Date
    Mar 2006
    Posts
    2

    Default

    At what point does seller's realtor stop showing house after an agreement verbal or writin? What I think the seller's realtor never sent my paper work and is still trying to sell on his own.

  4. #4

    Default

    The Realtor is required by law to forward all offers to the seller. You need to demand they either accept your offer or return your money.

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