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Karina, Home Buyer in Washington County, GA

offer contrac and verbal offer

Asked by Karina, Washington County, GA Mon Aug 24, 2009

imake a contrac offer for this home and in the last minute i make verbal offer for same home litle more..now after home inspection house need verry much repair..my question is can i back my verbal offer and keep the contrac offer???

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Answers

3
I see two issues here.

1. A verbal offer is not enforceable. If you do not have a written contract specifying the terms of your purchase agreement then I see little chance of prevailing if the agreement is contested. Always have any changes to your original agreement made in writing and aknowledged by both parties. In this case the seller has nothing in writing specifying a higher price.

2. Most contracts allow for home inspections to be performed within a certain time frame, usually 10 days, and give the buyer an option to withdraw if the inspection reveals flaws that the buyer is not comfortable with. If your inspection was done within the time period allowed and you no longer want the house then simply walk away and the only loss should be the cost of your inspection. If you still want the house then you should renegotiate the price of the home or have the seller make the repairs. If your inspection was not done within the allowed time then you want to seek some legal advice. Good luck.
Web Reference: http://www.realinjax.com
1 vote Thank Flag Link Mon Aug 24, 2009
Hi Karina,

Have to agree with Kathy. You need to contact the owner either through your agent or by yourself, preferably in writing, restating your interest is your original contract price. You might want to speak with a Florida real estate attorney. I can recommend the one that I use if you like.

All the best
Charlie Chorman
REALTOR
904-571-1358
yourrealtor@att.net
Web Reference: http://jaxhomesinfo.com
0 votes Thank Flag Link Mon Aug 24, 2009
Karina:

I'm not sure I fully understand your question. But are you saying that you made a written offer and the verbally changed your offer to a higher price? And then you completed your inspections and found out the house needed many repairs and now you want to pay the lower price, which was your written offer? I would speak to your agent about this, but verbal offers are not enforceable in Florida, only what is written. You may want to seek legal counsel for clarification.

Best of luck!

Kathy Phillips, Realtor, e-PRO
Coldwell Banker Residential Real Estate
http://www.CentralFloridaHomeSearch.com
0 votes Thank Flag Link Mon Aug 24, 2009
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