This question has already been answered but my answer is for the benefit of any potential buyer who may face the same situation. To be sure that what you are offering is being communicated properly PLACE ALL OFFERS IN WRITING. Request that the sellers response be given to you in writing signed by the seller. This eliminates alot of confusion. The problem with giving verbals is that what you actually say can be forgotten or intentially misrepresented. So when making an offer to purchase be sure that your request is always presented in written form. Retain a copy for your own records. And if you find that anything you agreed upon is not on the contract, if the sales price is different or the dates you agreed upon is different or some items that are supposed to be included is not simply DO NOT SIGN the contract. Be sure to have the necessary changes made prior to you signing. You can always have a contract reviewed by an attorney and I'm in no way discouraging the use of an attorney. But simply use good common sense. Do not sign anything that you do not agree with. And do not allow anyone to convince you otherwise.

Mon Apr 28 2008, 19:40

You need to consult a real estate attorney, they are the only ones that can give you the correct legal answer.
Good Luck.
Sharon Kozinn

Thu Apr 24 2008, 08:50

Hi Ruth, how are you? I see you’re in my local area!

I am not familiar with the way real estate transactions are conducted in MD. You will find that things may vary from state to state with regards to procedures and laws. This is why realtors can only conduct business in areas in which they are licensed.

Unless the contracts were executed I don’t believe there is anything you can do. It sounds like the terms of the agreement were made and agreed upon, but they were not binded by a fully executed contract.

Are you sure it was just price that was the deciding factor for the sellers to not move forward? The reason I ask is because price is just one of the many things that a seller must think about when considering an offer. These other factors can include the settlement date, terms of financing, and contingencies.

My recommendation is to have your agent meet with the sellers and their agent to find out what issue they have with the terms and try to find a resolution that will make both sides happy.

You can of course seek additional legal counsel for further advice.

John Agnello
Realtor®
Long & Foster, Real Estate Inc.
(609) 320-6700 –Cell
(856) 856-2338 –Office

Wed Apr 23 2008, 21:36

Verbal agreements are always binding… if both parties agree on what was said.

More than anything I would call what you had, or made, was a verbal offer. When the details were put in writing the two parties no longer agreed to the terms. And because in most states ALL real estate transactions must be in writing, it is just that more likely that you are not in a very strong legal position.

Please consult an attorney. I am not licensed to practice real estate or law in your area and my statement is nothing more than an opinion.

Mon Jan 14 2008, 12:54

I think that is mor a question for a lowyer, not a Real Estate agent. You should contact your lawyer for the correct in formation regarding that.
Good luck!
Sharon

Mon Jan 14 2008, 12:54