How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Michael Gonzalez Your Own Question
Michael Gonzalez
Michael Gonzalez, Lawyer
Category: Real Estate Law
Satisfied Customers: 536
Experience:  Managing Member at Perez-Mena & Gonzalez, LLC
Type Your Real Estate Law Question Here...
Michael Gonzalez is online now
A new question is answered every 9 seconds

I am selling my house in GA by owner. I have 2 parties

Customer Question

I am selling my house in GA for sale by owner. I have 2 parties interested in it. One (Party 1) is represented by an RE agent, the other is not.
Party1 (P1) submitted a formal offer via an RE sales contract. In that contract it said that the floors would be finished by the owner. I talked to the RE agent and said that it would be best if I gave P1 an allowance and they could do the floors to their liking. He talked to P1 and they agreed. So he changed to contract stipulations to reflect the allowance. He has since, resent the contract to me for signature. I have not signed anything.
My questions:
1. Did me suggesting that I give P1 an allowance vs doing the floors myself, constitute a binding counteroffer on my part?
2. Am I legally obligated to go through with deal as revised?
3. Can I continue to negotiate with P1?
4. Can I continue to negotiate with Party2 (P2)?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Michael Gonzalez replied 1 year ago.

Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

1. Your suggestion does not bind you. You need to sign (or initial) the changes to make it binding;

2. If the revision is considered material, then you are not legally obligated to the revision until you have assented in writing to this chage;

3. You may always continue negotiating with P1 presuming they agree to the conditions that you are proposing and counter-proposing;

4. At this point, it appears that you may negotiate with P2 as a "back-up" contract as long as there are no provisions in the original contract with P1 that would preclude you from accepting "back-up" contracts.

Hope this helps.