Delores Rach answered:
Yeah - If its not 'in contract' that is an actual signed contract by both parties. That said, in 15 years I have only heard of buyer and seller agreeing to a price and seller backing out. I read about a guy in Ridgefield, CT - I think the house was on Highview, but am not sure. I think it has since been sold. The seller(s) twice agreed with buyer on a price and twice asked for a higher price, but that was before contract. Still I can't imagine any seller doing this in this market. Though in 15 years of transactional real estate I could never imagine such behaviour regardless.
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