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Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 54834
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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Hi. I am a Realtor and received an offer on one of my listings.

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Hi. I am a Realtor and received an offer on one of my listings. Both my sellers live out of the area so the buyers and their agent agreed to do verbals and once we reached an agreement then get the sellers signatures asap. The buyers have already signed and given the earnest money check. When is the time of acceptance? Once agreement has been reached and buyer has delivered signed contract & earnest money or not until the signatures from sellers have been gotten on final paperwork?
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good afternoon. Under the statute of frauds, agreements involving real estate are not legally binding unless in writing and signed by both buyer and seller. So, until the sellers have signed the contract and the signed contract has been delivered either to each other or to a title company, there is not a legally binding contract.


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