Is it a binding agreement if I accepted an offer to purchase my property via e-mail?
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Is it a binding agreement if I accepted an offer to purchase my property via e-mail?
I agreed to the price but no formal contract has been made or signed.
Asked on June 18, 2011 under Real Estate Law, Ohio
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
A contract for the sale of property, as one of many types of contracts, must be in writing. The material terms all must be in writing and of course there must be signatures in place. Your issue will be if in your state, let's say the property is in your state, allows for such contracts to be via email (i.e. an e-signature) or if an actual handwriting signature is required. Keep in mind, what you agreed to may also only be considered an option contract but if someone was purchasing your property, then that person could get out of it by simply stating it may not meet certain statutory requirements, including disclosures and such.
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