Legal Question in Real Estate Law in New York

Real Estate Offers

If you make an offer on real estate at the asking price, legally, is the seller required to accept it?


Asked on 1/28/98, 10:10 pm

2 Answers from Attorneys

John Hayes The Law Office of John M. Hayes

real estate offers

no.

regards, etc.

jm hayes

-> these musings are, you know, just a "seat-of-the-pants" analysis & are NOT intended to be construed as / understood as / utilized as Legal Advice & Counsel <-

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Answered on 2/02/98, 10:52 am
Keven Danow Danow, McMullan & Panoff, P.C.

Re offer and acceptance- Real Estate

Under the law of the State of New York, contracts for the sale of Real Property must be in writing signed by the party to be charged. In addition, there are many significant terms to a real estate contract, other than price. Consequently, the offer can be withdrawn even if you do not bargain. The Seller may be liable to the broker for bringing a buyer ready, willing and able to perform.

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Answered on 2/02/98, 8:49 pm


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