if i was about to buy a property and the seller was getting the contract drawn up but we had not yet signed it and the seller then sold it too another buyer through the real estate for a higher price, is that breaching a verbal agreement or is it he said she said
2007-03-11 22:18:09 · 8 answers · asked by melissah c 1 in Politics & Government ➔ Law & Ethics
mel,
Unless you can prove (a deposit, perhaps?) that there was some sort of agreement, I dunno that you have anything to prove...
I always call my real estate attorney prior to a deal...avoids misunderstandings and hassles.
2007-03-11 22:23:44 · answer #1 · answered by Wolfsburgh 6 · 0⤊ 0⤋
The buying and selling of real property is under the Statute of Frauds; meaning there has to be a writing in order for the transaction to be binding.
However, if you made a deposit, then you should get it back.
Interesting to note is that if the other buyer had no actual or constructive knowledge of a real estate transaction between you and the seller (i.e. the paperwork for change of title had not been recorded); and that buyer paid value for the property, that buyer would still get the property; however, you could still sue the seller for damages.
Good luck!
2007-03-12 05:37:58 · answer #2 · answered by MenifeeManiac 7 · 0⤊ 0⤋
In most states, verbal agreements for the sale of real property are not binding.
Unless you paid separate money (such as a deposit) for the seller to hold the offer open to you (called an option contract), then until there was a written agreement, there was no contract.
All laws vary by state. Check your local listings.
2007-03-12 05:25:52 · answer #3 · answered by coragryph 7 · 2⤊ 1⤋
A verbal agreement means absolutely nothing. That's why I suggest to all my friends to never agree orally to anything. Even a handshake doesn't hold weight. The only thing that does is a written agreement with the parties' signatures affixed to them.
2007-03-12 05:22:51 · answer #4 · answered by gone 6 · 1⤊ 0⤋
Until the paperwork is signed in a real-estate transaction, there is no contract.
2007-03-12 05:21:27 · answer #5 · answered by Chief BaggageSmasher 7 · 0⤊ 0⤋
You been screwed. She probably used you to leverage a higher price from the other buyer too. That bites.
2007-03-12 05:24:05 · answer #6 · answered by Anonymous · 1⤊ 0⤋
It is not ethical on the seller's side, they should have offered you the chance to match it but if no papers were signed and no money changed hands it is not illegal.
2007-03-12 07:00:22 · answer #7 · answered by dude0795 4 · 0⤊ 1⤋
Yes is breach..of agreement even though it is oral. if you have give the consent should not break it.
2007-03-12 05:25:46 · answer #8 · answered by Anonymous · 0⤊ 0⤋