Is Your Offer Considered A Contract?
Interesting article I found on line and wanted to share with the group.
http://list.realestate.yahoo.com/re/story.html?s=n/inman/realestate/20031112/20031112301
Interesting article I found on line and wanted to share with the group.
http://list.realestate.yahoo.com/re/story.html?s=n/inman/realestate/20031112/20031112301
An offer is still an offer until it is accepted as delivered and thus becomes a contract or is countered and thus becomes a counter offer or it is refused as most of mine are which become scrap paper. The article was kind of confusing and did not even mention these important aspects of offers and contracts.
Thank you,
[ Edited by rajwarrior on Date 11/13/2003 ]
I agree............to a point.
In some states, figures scribbled on a scrap of paper that are initialled by both parties could be disputed as a contract.
The point being, be sure to word your offers with an 'out' so as not to be bound on something you may not be able to deliver.