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Question

I have my residence listed with a realtor for sell. I signed a contract with a potential buyer on 9/4/09 with a closing date of 10/27/09. The buyer sent an addendum with a lower price than the original contract after the mortgage appraisal came back with at a lower value than the original contract. I turned down the new offer and did not sign the addendum. I did indicate in an email to my realtor that I would consider an offer of $XXX. The buyer has now sent a new addendum with that amount. I have not signed this addendum. I would like to keep the residence. Does my email indicate a legal intent to sell that would be held up in court if sued for default? Does that fact that I have not signed the addendum protect me? Thanks.

Submitted: 25 days and 11 hours ago.
Category: Legal
Value: $19
Status: CLOSED
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State/Country relating to Question: Tennessee

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Accepted Answer

Hello, and thank you for the opportunity to answer your question.

Based on the information provided, no, your email stating that you would consider a specific amount isn't binding. An email could be considered an offer to sell, thus giving the buyer the opportunity to accept the offer, making it binding. However, your use of the word "consider" is important. Plus, the facts as stated imply that his sending you the addendum was in fact the new offer, and that in the end you chose not to accept it, and thus no binding agreement was formed. Generally, landsale contracts need to be much clearer than that to be binding, and you should be ok.

I hope this helps, and thank you for the opportunity to answer your question. If you have any further questions, please do not hesitate to ask. Otherwise, please remember to click the green ACCEPT button so that I can receive credit for my work.

Take care

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Expert: SavyLawyer
Pos. Feedback: 97.3 %
Accepts: 
Answered: 10/28/2009

Attorney

Licensed to practice law, I have experience in dealing with a wide variety of legal issues.

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