Ok so Im in the process of selling my late mom's mobile home.Tonight over the phone I made a deal with a man. He said we would close at the end of December. A hour later another man made a higher offer...can I call the first man back and tell him the deal is off? Can he take me to court?
2007-11-29 10:45:07 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
You have a verbal contract with the first guy. But verbal contracts are about impossible to enforce, so if your question is are you morally obligated to honor the first agreement, yes, but can he sue you and win if you don't, probably not.
2007-11-29 11:23:09 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
He can only take you to court if you have a written agreement. You should make sure your higher offer actually is approved for the money for you call the other offer. In the real estate game the sale goes to the highest bider if he is serious about the property he will match the offer but you really need to do your homework on both customers have they been pre-qualified yet? you never know who is blowing smoke and who is serious let them both know there are other offers on the table however who gets approved gets the property is how it works
2007-11-29 19:08:01 · answer #2 · answered by John U 1 · 0⤊ 0⤋
Is any of this is writing? If not you really don't have any offer
If you believe the first guy is legit, you could call and see if he wants to meet the higher offer, but get something in writing and a deposit.
2007-11-29 19:07:42 · answer #3 · answered by hanora 6 · 0⤊ 0⤋
This is NOT a real estate deal in the true sense. Yes, anyone, anytime, anything can sue in this sue happy world.
Call him tell him you have the other offer and see if he wants to meet it. if so get it in writing immediately.
2007-11-29 18:55:18 · answer #4 · answered by Anonymous · 0⤊ 0⤋
No, he can't do anything, but you should have said "just taking offers"...now you are going to look like a real a hole (no offense). I hope it wasn't someone you knew! Good luck.
2007-11-29 18:55:31 · answer #5 · answered by primalclaws1974 6 · 0⤊ 0⤋
no he cant take u to court unless he already payed or sign some documents first
u can go back on your word in this situation, he SHOULD understand. evedrybody iz trying to make money in here!
2007-11-29 18:55:25 · answer #6 · answered by remix_1055 2 · 0⤊ 0⤋
you can't use a verbal agreement in real estate deals. it has to be in writing. that's why there's so much paperwork.
2007-11-29 18:48:42 · answer #7 · answered by Anonymous · 0⤊ 0⤋