Must an agreement regarding the sale of real estate be in writing?
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Must an agreement regarding the sale of real estate be in writing?
Asked on August 15, 2015 under Real Estate Law, Tennessee
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
Most oral contracts are legal and binding. That having been said, real estate contracts are an exception. They must be in writing in order to be enforceable. It's not illegal to have an oral real estate contract, it's just that courts will not enforce these non-written contracts. Furthermore, if you need a mortgage to complete the purchase of a home, lenders require a fully written and signed sales contract.
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