Legal Question in Real Estate Law in Texas

real estate transaction. Offer veribally made purchase contract was not returned completed had another offer and received complete contrat and I still obligated to the first offer?


Asked on 10/17/12, 8:30 am

1 Answer from Attorneys

EDWARD KAZALEH KAZALEH & ASSOCIATES, LLP

Its somewhat confusing the way you put it, but it looks like you had a property for sale, received an offer, agreed to sell, but needed an earnest money contract signed and returned. Then you go a better offer. Typically, offers are just that, unenforceable offers to enter into a contract, If you did not reach a contract, then you have no obligations to the other person and can go with higher offers. However, in some situation, based upon the other conduct or promises of the parties, such an offer can be held as enfoceable. For example, if one person reasonably relied upon the accepted offer to his own detriment such as incurring debts, declining other properties, etc. and YOU knew about that reliance, it could be upheld as a binding contract, without signatures. As such, it all depends on your actions, promises, understanding and circumstances. If you need to discuss it in greater detail, I can offer a no cost brief consultation to hear greater details. Just email me to set up a call... But, generally speaking one can go with the highest offer absent a mutually signed written contract.

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Answered on 10/17/12, 8:46 am


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