Verbal Agreement With Realtor

A: From what you have described, it looks like you are “in the contract.” But make sure. ALL OFFERS MUST BE MADE IN WRITING. Although oral offers have been made and accepted by all parties; immediately receive written signatures and signatures from both parties. All real estate contracts must be signed in writing and by both parties. Ask your agent for a full set of agreements and check what has been agreed and what has not. If you have never signed the agreement with new conditions that have been accepted orally, I would also be concerned and I would like those conditions clarified. Q: I made an offer for a house, I refused, I made a counter-offer, the verbal agreement was made on this offer. When we went to put money seriously, they were told they had a better offer and were in luck. Another real estate agent stepped in with his client with a higher offer and took us home. There was a verbal agreement with the sellers, is there a remedy when you can take it? Or can steps be taken with the real estate agent to reduce the sale and agreement? I think brokers are like car sellers, can`t trust any of them….-Anonymous, South Wilmington, IT I`m also very sorry that you get the impression that brokers don`t trust. If you feel you are paralyzed or have a problem with your broker, you can talk to the managing broker or the local brokers association. I hope it helps. Denise Shur is a real estate agent® with 1:1 Realty in San Jose, CA.

A: Right now, these things are happening. There is nothing on paper in Illinois. It`s just a bad situation. The listing agent should inform your agent that a higher offer has been received. I wouldn`t say we`re car salesmen. There are a lot of good agents out there. Matt Laricy is a real estate agent® at Americorp Real Estate in Chicago, IL. Q: My agent made an offer (written) to buy my house. I made a counter-offer (in writing). The buyer responded verbally about the agent. I orally accepted their counter-offer on the agent.

The agent told me that the buyer had signed the offer. When I asked the agent if I should sign the agreement, she said I had already signed it. I never signed the agreement with the terms that we discussed orally. I want to make sure that an error does not derail the sale of this property. Do I really have a contract?–Charlie, McCalla, AL A: Unfortunately, oral agreements in real estate transactions are not acceptable or legal. All real estate transactions must be done in writing. Brokers miss homes all the time, especially when there are several offers. Sometimes it is the one who gets the contract first who wins. Other times, the seller may prefer one offer better than another and it is THEIR CHOICE to choose the offer he wants. You can counter all offers, counter only a few or not counter everyone and accept one directly. So don`t blame the brokers, it`s the seller`s choice.

If the seller wanted to choose your offer, it would have come back to you regardless of other offers on the table. Beverly Hourlier is a real estate agent® with Hilltop Chateau Realty in San Diego, CA. A week later, the same listing agent for the above property received a text from another buyer`s agent. The text said: “The buyer has just seen the unit and is thinking about the renovation costs and wants to offer your Seller____. I don`t want to waste your time. Make this oral offer to the seller to start the process. This case shows that a commission agreement based on a verbal sale agreement is legally applicable, but that it is often virtually difficult to prove the existence of an oral agreement. A: The law of the land (at least in every state I know) is that agreements for real estate must be written. SO, unless the verbal agreement has been reduced to the letter and signed by the sellers (you don`t need to have signed), you can`t impose it and they can accept another offer.

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