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Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 37003
Experience:  16 years real estate, Realtor. Landlord 26 years
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In Texas, I had a signed Real Estate contract and the buyer

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In Texas, I had a signed Real Estate contract and the buyer 'verbally' backed out. My agent said that since there was no ernest money deposit, it was never a legal contract. When my agent heard that a recinsion was in progress, she stopped 'processing' the contract, so the contract (signed by both parties was never delivered. I have never received a written recinsion. Now my agent is saying that if I have her deliver the contract, that she will stop marketing my home
1. Can a contract be verbally recinded ?
2. If I have both parties signatures and I deliver the contract, will it be 'in force' and binding even though there has been a verbal recinsion?
3. Is my real estate agent at fault?
Hello and thank you for using JA! My goal is to provide you with excellent service and help with your legal problem.
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1. Can a contract be verbally recinded ?
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If it is a validly executed contract in writing, then no. But if a contract has not been properly executed, then it can be cancelled at any time before it is legally executed.
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2. If I have both parties signatures and I deliver the contract, will it be 'in force' and binding even though there has been a verbal recinsion?
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If there has been no "consideration" paid, (i.e. deposit, earnest money, etc.) then a contract to sell or buy real estate is not legally binding. In order for there to be a legally binding real estate contract, there has to be an offer to sell, an acceptance to buy and the payment of some consideration (usually money) to make it binding.
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3. Is my real estate agent at fault?
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Technically your real estate agent should have requested some type of deposit for good faith money. Even $1 would have been enough to make the contract completely legally binding.
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Thanks.

Barrister

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I cannot enter into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. The information provided is not a substitute for a local attorney’s legal advice.

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Thanks so much for the positive rating and generous bonus, it is very much appreciated!

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It was my pleasure to work with you and help with your question. Please feel free to ask for me if you need help with anything in the future and I will do my level best to help or get you to someone who can.

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Barrister

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