Legal Question in Real Estate Law in Arizona

I discussed an offer on a property at a set price. The seller is now getting an appraisal. If the appraisal comes in lower than my offer, can I then offer lower? Nothing has been submitted in writing.


Asked on 2/01/11, 2:48 pm

1 Answer from Attorneys
Donald Scher Donald T. Scher & Associates, P.C.

Yes, discussing a price is not an agreement. In order for there to be a contract, there must be an offer, acceptance and consideration (the price) and it must be setforth in writing.

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Answered on 2/08/11, 7:46 pm


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