Legal Question in Real Estate Law in Virginia
A real estate agent acting on behalf of buyers submitted an offer to purchase property. The offer was accepted and signed by the sellers without changes. Acceptance of the offer was communicated to the buyer's agent. Before the contract was delivered, the sellers changed their minds and instructed their agent to notify the buyer's agent of their decision. Is there a contract since acceptance was communicated or is delivery reqired in order to bind the parties?
2 Answers from Attorneys
No, delivery of a copy of the actual contract itself to the buyers should not be required to make a binding contract as long as they previously gave their oral assent to their agent for the purchase (in my opinion).
Agreed, Michael is always right as far as I've seen.
But you also want to look carefully at what the contract actually says. Make sure it does not cover questions of cancellation within X days or anything else that might affect your situation
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