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Verbal with regard to possible rentals

Asked Nov 4, 2007, 06:22 PM — 1 Answer
We have been trying to sell our home for over 60 days. We have spoken to a person who is willing to rent it until she can try to afford to buy it. We told her it was no problem.

However, we have had someone call who may be interested in buying the house outright.

Do we have the right to sell the house to the second person and not rent to the first person given there has been nothing signed and no monies paid to us by them? Also, the person interested in renting is planning to tell her current landlord that she is moving by the month's end.

Please help fast.

Thank you,

Jay Snyder

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Fr_Chuck's Avatar
Fr_Chuck Posts: 72,597, Reputation: 37026
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#2

Nov 4, 2007, 08:31 PM


Yes, you should give the first perosn the first right to purchase, but unless you have a written document, naming specific prices, specific time frames for the purchase, you don't have a binding contract for the sale of property
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