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Loren
Loren, Lawyer
Category: Real Estate Law
Satisfied Customers: 29102
Experience:  30 years of real estate practice experience.
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Is there a time limit buyer , who has an accept verbal

Customer Question

Is there a time limit for a buyer , who has an accept verbal offer from the seller, to back out of the purchase in the state of Michigan. The house is being sold as is and $500 was pudt down in earnest money.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Loren replied 1 year ago.
Good evening. I am Loren, a licensed attorney, and I look forward ti assisting you.
Expert:  Loren replied 1 year ago.
Unfortunately, the statute of frauds requires a written contract to enforce a real estate sale contract. In other words, there is no enforceable contract to back out of.
Expert:  Loren replied 1 year ago.
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