Legal Question in Real Estate Law in Ohio
i verbally accepted a offer for home we are selling
two hours later an offer for more then the selling
price was made. i choose that one of course. now
the first buyer told our realtor that they are going to
do a cease and desist . No purchase agreement had
been signed an their realator changed the closing
date on purchase agreement. is verbal binding in the
state of ohio
1 Answer from Attorneys
DEAR CONCERNED SELLER: Ohio law requires a written contract, signed by both parties for the sale of real estate. No written offer, no sale! Verbal offers to purchase or sell real estate in Ohio, do not count!. Go ahead and accept the better offer. If the disgruntled first buyer wants the property, let them offer to pay the higher price or proceed with the second offer to sale and closing. The threat of legal proceedings is just plain talk..it won't hold up in any court. And, if they interfere, you may wish to counterclaim for tortious interference with your personal economic advantage, business and lawful sale. Retain an experienced lawyer if you need more advice and reassurance.
Good luck!
Sincerely,
WHERE EXPERIENCE COUNTS, COUNT ON MY EXPERIENCE
J. NORMAN STARK, ATTORNEY
ARCHITECT EMERITUS (Ohio) A.I.A., N.C.A.R.B.
1109 Carnegie Avenue Cleveland, Ohio 44115
(216) 531-5310 x7100 Email: [email protected]
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