     Anonymous | Wednesday, March 22, 2000 - 08:24 am 
While looking at a property to buy, my son decided at first glance that it was not worth the asking price. The realtor said since he was there he might as well look around. After a quick look, he told her he thought it was way over-priced, and wasn't interested. She told him to make an offer. He said anything he offered would probably be an insult to the seller if he thought it was worth the asking price. She pushed, and he finally gave her a figure off the top of his head that was $10,000 lower than the asking price. She did not ask him to sign a contract, and he didn't think she would hold him to it. The next day she called and said the owner had accepted his offer. When I told her he did not realize she would hold him to that figure, but offered it only because she insisted, she said he had made the offer, it was accepted and he was, indeed, obligated to honor the offer.
Can he be held to this since he didn't sign anything? |
| Anonymous | Wednesday, March 22, 2000 - 08:54 am
In Real Estate transactions, VERBAL agreements are NOT NOT NOT enforceable. ALL REAL ESTATE contracts MUST be in writing. Tell the Agent to take a hike. |
| Don Semler (Dsemler) | Wednesday, March 22, 2000 - 05:19 pm
Agreed, there is nothing binding here. The Realtor could be reported for misconduct to th local board. EVERYTHING MUST BE IN WRITING!! |
| Christine Baker (Admin) | Saturday, March 25, 2000 - 02:20 pm
I recently had a similar experience. The agent wrote the offering price on a yellow sticky note, that was it. She didn't request a deposit either.
Once the seller's verbal counter was accepted, she wrote up the 8 page contract and pointed out where to initial and sign.
No discussion of any terms other than the cash price took place. Property inspections were declined as per contract. |
