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Can a verbal offer be withdrawn?

7/19/2017

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Blog: Can a verbal offer be withdrawn?
This question sometimes comes up when a buyer has made a verbal offer or a seller has made a verbal offer and then reconsiders things and determines they don't wish to solidify their offer. When this happens, is it legal?
As with any legally binding contract, you should seek legal advise from an active lawyer versed on real estate law before proceeding with any decisions/actions. However, when it comes to the sale of real property, the Statute of Frauds stipulates that contracts must be in writing in order for them to be enforceable. As such, if the parties involved in the verbal exchange do not have anything in writing to capture their offer/acceptance, then it is likely unenforceable. Keep in mind that even an email capturing the offer  changes this as it puts the information in writing making it an enforceable matter. 
This is why it is so important to keep a written record of all agreements and ensure that it is shared with both parties.
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  • Home
  • About the Area
    • Neighborhoods
    • Naples Information
    • THINGS TO DO IN NAPLES
  • Your Search
    • New Listings >
      • Bonita Springs New Listings
      • Estero New Listings
      • Ft. Myers New Listings
      • Marco Island New Listings
      • Naples New Listings
    • Neighborhood Search
    • Map Search
    • Basic Search
    • Advanced Search
    • Price Drop Search
    • New Construction
    • Lifestyle Search
    • Rental Search
    • Foreclosure Search
    • Open Houses
  • For You
    • Your Naples Realtor >
      • Meet Renee Hahn
      • Meet Ashley Austian
      • Meet Lian Velge
    • Seller Resources
    • Buyer Resources
    • Market Update
    • Naples Real Estate News
    • Home Valuation
    • Q&A Video Clips
    • Mortgage Calculator
    • Closing Cost Calculator
    • Helpful Links
    • Contact Information