Verbal Contracts and Real Estate Question. State: CA . Seems like Real estate is the exception to verbal contracts being valid. But what about a witnessed and very simple "We accept" ... no contract conditions, changes, additions. It seems like there is nothing that is unclear about it ... and it was a fair offer at a fair price. Just could not be executed on paper over a holiday weekend. Do I have a case for a "Lis Pendence" on the property for the party breaking it off. We have supporting emails indicating the acceptence was real (from the relo company involved as an intermediary).. They just got a better offer while we were in the middle of paperwork to complete and bailed on our offer to chase the better one.
2006-11-29 14:42:04 · 5 answers · asked by Peter H 1 in Business & Finance ➔ Renting & Real Estate
Always get it in writing.
2006-11-29 14:53:11 · answer #1 · answered by notyou311 7 · 0⤊ 0⤋
Real estate contracts MUST be in writing -- and e-mails don't count. However if a broker was involved you may have a claim against him or her for bring another offer to the table before yours was dealt with in writing.
FYI, there's no good reason for NOT doing the paperwork on a holiday weekend. I've done it a couple of times -- on the 4th of July and once over Memorial Day.
Talk to a lawyer -- especially before filing Lis Pendence because if you don't have a legal leg to stand on they could go after you for killing the other deal and possibly force you to buy at the higher price or at least make up the "loss".
2006-11-29 15:06:38 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
You can always file a lis pendence action, that just means there is a lawsuit or something pending.
You would want to sue for specific performance on a contract. That is, to sue for the actual sale of the house to you.
Real estate contracts have to be in writing, so a verbal offer and a verbal acceptance.....maybe not, how do you prove what the terms were?
But if they had a offer listed and you accepted it, you are on better ground. Plus if there was action taken by you and others based on that acceptance, you might have a case for some damage b/c of detrimental reliance.
How much are you out?
2006-11-29 14:59:58 · answer #3 · answered by t S 4 · 0⤊ 0⤋
Definately terminate your agent if she can't get it right within a decent time period, like 24 to 48 hours. 7 days is too long for you to have to wait. Talk to her broker and ask to be released from the contract. Many brokers value their reputation more then having an unhappy customer who will spread the bad news about their company.
2016-05-23 03:57:17 · answer #4 · answered by Alejandra 4 · 0⤊ 0⤋
Welcome to the world of Real Estate. He who offers most before the ink dries wins.
2006-11-29 14:59:41 · answer #5 · answered by Monita Marler 4 · 0⤊ 0⤋