Legal Question in Real Estate Law in Texas

Is our Verbal agreement binding? Next-Another contract come in to the seller

So-Is our verbal agreement (which was all agreed upon) binding? Since we have not put our contract in writing in a timely manner, another contract came in that was higher than our offer (which was the listing price of the home). Do the sellers have to still honor our verbal agreement or do they have the right to take the other offer, even though we had verbally agreed and was waiting to sign the contract.


Asked on 4/27/08, 9:25 am

1 Answer from Attorneys
Kathryn Perales PMI Oil Tools

Re: Is our Verbal agreement binding? Next-Another contract come in to the seller

It's my understanding that since the contract had to do with real estate, it was not binding until it was in writing. Sorry, this kind of thing happens all the time. You could make a big stink about it, but especially if the sellers already have a written contract with the other buyers by now, you probably won't get anywhere.

Read more
Answered on 4/28/08, 9:43 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Texas