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    sep1998's Avatar
    sep1998 Posts: 1, Reputation: 1
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    #1

    Aug 31, 2008, 12:17 AM
    Is a verbal agreement legally binding?
    My father-in-law is visiting us in Arkansas and was considering moving here. He looked at some homes for sale, and made a verbal offer (no realtors or paperwork involved) on a house. The seller counter-offered, but would not come down far enough. My f-i-l never signed any paperwork or offered any earnest money, but the seller is now saying that he "is out some money" and is owed $1,000. It seems that the seller may have contacted a home inspector, but I do not believe the inspection has been done yet. Is there some law that I am unaware of that makes my f-i-law somehow liable for any $$$ when NO paperwork was completed of any kind? Thanks for any info.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #2

    Aug 31, 2008, 07:12 AM
    Hello sep:

    If this wasn't a real estate deal, your f-i-l would be liable for his contract. But, since it IS real estate, it MUST be in writing for it to be upheld.

    excon
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #3

    Aug 31, 2008, 07:17 AM
    Quote Originally Posted by sep1998
    My father-in-law is visiting us in Arkansas and was considering moving here. He looked at some homes for sale, and made a verbal offer (no realtors or paperwork involved) on a house. The seller counter-offered, but would not come down far enough. My f-i-l never signed any paperwork or offered any earnest money, but the seller is now saying that he "is out some money" and is owed $1,000. It seems that the seller may have contacted a home inspector, but I do not believe the inspection has been done yet. Is there some law that I am unaware of that makes my f-i-law somehow liable for any $$$ when NO paperwork was completed of any kind? Thanks for any info.


    Did your father in law ask that an inspection be done and, if so, did he offer to pay for it.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #4

    Aug 31, 2008, 08:31 AM
    Quote Originally Posted by sep1998
    My father-in-law is visiting us in Arkansas and was considering moving here. He looked at some homes for sale, and made a verbal offer (no realtors or paperwork involved) on a house. The seller counter-offered, but would not come down far enough. My f-i-l never signed any paperwork or offered any earnest money, but the seller is now saying that he "is out some money" and is owed $1,000. It seems that the seller may have contacted a home inspector, but I do not believe the inspection has been done yet. Is there some law that I am unaware of that makes my f-i-law somehow liable for any $$$ when NO paperwork was completed of any kind? Thanks for any info.
    Ok, person makes a offer, they can be held liable unless the offer is rejected BUT, once there is a counter offer, that is a refusal of the offer
    And a new offer on their terms,

    So had they not made a counter offer, then yes perhaps but since they made a counter offer then there is no contract what so ever.
    Now in many places a real estate contract is not valid unless it is in writing, so there may also be protection there also.

    First a home inspection costs 300 or so, not 1000 dollar, but if your father asked for one, he may be liable for it but only if he asked for an inspectoin
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