Is my counter offer binding?

Asked by Stressed, Coconut Creek, FL Mon Oct 20, 2008

I sent a counter offer for the sale of my home. I signed and dated the contract but I did not initial the changes. Therealtor is requesting that we now initial the changes. At this point can I reject the offer or am I bound because I signed and date the contract?

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6
Maria Morton, Agent, Kansas City, MO
Mon Oct 20, 2008
Do you want to get out of the contract or do you want to sell your home?
2 votes
Mott Marvin…, Agent, Sunny Isles Beach, FL
Tue Oct 21, 2008
Obviously, this has become a legal issue. My understanding is that if a judge were to review the contract in question- the intent of the parties would prevail. Many times items are missed that need to be initialed, but the intention of the parties was to initial them. If something is not addressed it may be assumed to be intentional. This is a specific matter and should be answered by the agents and brokers involved.
0 votes
Bill Eckler, Agent, Venice, FL
Tue Oct 21, 2008
Stressed,

We have definitely crossed over from the world of "real estate" to the world of "Law." This question, as previously mentioned, would best be addressed by a real estate attorney.

Good luck
0 votes
Dawn Smith, Agent, Boca Raton, FL
Tue Oct 21, 2008
If you countered an offer on your property, it is not legally binding until the BUYER also agrees to whatever changes you made. For example, if the buyer offered you $200k and you crossed if off and changed the price, the buyer would have to initial as agreement also.

The purpose of initialing is to acknowledge review and acceptance of these changes. If the buyer has already initialled the changes and your initials are the only ones pending, you need to discuss your dissatisfaction to your agent or your agents broker. Call or email me if you need to, I am local...
0 votes
Keith Sorem, Agent, Glendale, CA
Mon Oct 20, 2008
Stressed:
This is a legal question. IMHO your Realtor or their broker could best answer. Otherwise I would recommend an attorney.

It is unfair for us to give you advice on a document that we have not seen. I do agree with the two prior posts.
0 votes
Maria Morton, Agent, Kansas City, MO
Mon Oct 20, 2008
You have a legally binding contract when all parties have signed the contract. All of the changes need to be initialled and dated.
Web Reference:  http://www.mariatmorton.com
0 votes
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