What is an accepted verbal offer?

Asked by John Joe Judge, Columbus, OH Sun Jun 22, 2008

accepted verbal offer but agent continues to show

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Christopher Pagli’s answer
Christopher…, Agent, Tarrytown, NY
Sun Jun 22, 2008
Hi a verbal acceptance is exactly what it sounds like. Alot of areas have the buyer and seller sign the offer to make it official, Westchester doesn't usually do that. It's called a binder which binds the buyer and seller at that moment, and then goes to attorney review. Most agents will continue to show the home until contracts are fully executed by buyer and seller. It would behoove them to do so since deals can fall apart and you would like to have other opportunities. I hope this helps, please feel free to contact me to pick my brain further.

Christopher Pagli
Associate Broker
Legends Realty Group
914.332.6300 x107
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T.E. & Naima…, Agent, Dallas, TX
Sun Jun 22, 2008
Someone from the local market will have to confirm that to you, but in our market (Texas), verbal doesn't count, only written and signed is considered binding. Doing business on a handshake went out the window a long time ago.
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