Texas A Place to Call Home : Are Verbal agreements to sell Real Estate in Texas Enforceable

Are Verbal agreements to sell Real Estate in Texas Enforceable

Are Verbal agreements to sell Real Estate in Texas Enforceable????? 

The answer is below Courtesy of 

Sean A. Clemmensen | Managing Partner & General Counsel
281.923.5708 (Mobile)
www.tiagotitle.com

 

How many times as a Real Estate agent and or broker do we get calls from other agents saying I do not want to write up an offer just tell the seller this is what the offer is...... Really Ah no thank you offers are to be in writing no verbal offers will be presented..... All offers are presented when sent in correct form which is in writing. Why would anyone ask such a question is beyond me.... but it happens. The seller wants to sell the buyer wants to buy let's get it in writing so we can correctly discuss the offer . ( this part written by Laura Filip Broker Owner of RE/MAX UTOPIA)

 

Thank you To Sean A. Clemmensen of Tiago title for sending the email and letting me use the information he has sent. 

 

Are Verbal Agreements to Sell Real Estate in Texas Enforceable?

 

NO!

As a starting point, verbal contracts do exist and are legally enforceable in Texas, as a matter of law, if they meet necessary legal requirements and specificity. Adequate consideration must be given between the two parties of a verbal contract to make it binding. Adequate consideration is defined in two ways: (1) having a mutual reciprocal exchange [bargained for exchange] or (2) having legal value [an individual must do something that he is not legally obligated to do]. If adequate consideration is given between both parties and all other legal requirements are met, then a verbal contract may be held valid in a court of law.

HOWEVER, verbal contracts are also limited by the Statute of Frauds. The Statute of Frauds requires a verbal agreement to sell real estate be reduced to writing and signed by the buyer and seller to become valid. While verbal negotiations of contracts can be a quicker way to reach an agreement, verbal agreements are not enforceable for the sale of real property.

 

Sean A. Clemmensen | Managing Partner & General Counsel

 

281.923.5708 (Mobile)
www.tiagotitle.com

Tiago Title, LLC | Managing Partner & General Counsel

281.923.5708 (Mobile)
* TREC Approved MCE Instructor* Licensed Escrow Officer

 

 

 

 

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Laura D Filip Broker/Owner CRS,CHMS,CNHS,RCC

 903-271-4978 cell phone text messages

855-483-9662 office contact number

www.GreaterTexoma.com

 

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Comment balloon 4 commentsLaura Filip • June 25 2016 02:28PM

Comments

Exactly! Write it up and then we talk out the details and what probably needs to go into a counter offer. Black and white paper baby.

Posted by Lauren Selinsky Broker CRS, "Your California Real Estate Broker" TM #oclauren (California Coastal Estates) over 2 years ago

Lauren Selinsky CRS ePro that is correct put your offer on paper... one of my agents just had this conversation today. Buyer I would like to make an offer on abc 123 main street, awesome when can we meet to write up the offer. Buyer no I do not want to write up an offer just tell the seller this is what I am willing to do. Agent No it must be in writing. Buyer ok no thank you click.... hmmm what was that all about. hmmm 

Posted by Laura Filip, What can we do for you today? (Laura Filip Broker , Opening doors for All Seasons of Life ) over 2 years ago

Good morning Laura. You're right, it happens all the time, most of the time for two reasons. Either the offer is much lower than the asking price or the selling agent is too lazy to write it up right away.

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) over 2 years ago

Excellent post, Laura.  The same is true in Florida.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) over 2 years ago

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