Buying or Selling a Home/Verbal Offer to Purchase

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Expert: - 9/17/2007


Question
My single family home is listed for sale. My broker indicates there is an interested party and they have made a verbal offer to purchase. Would I be better served by asking for the offer in writing?

Thank You

Answer
Hello-

A verbal offer isn't binding, isn't enforceable, and most of the time leaves out important information.  What is their financing ratio? When will they sign P & S?  These are important factors that should be agreed to at the time of discussion.  Most agents, including myself, consider verbal offers a waste of time.  Get it in writing!

Matt Heisler
Heisler & Mattson Properties.  

Buying or Selling a Home

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Matt Heisler

Expertise

I can answer questions about buying or selling your home, and questions about the market in Massachusetts, with detailed answers if you ask about my specific area in Mass, Metrowest. I can help with Investment property and the basics of financing. How to construct deals and how to find bargains and how to protect capital. Land, home sales, rehabs, fix and flips, income property are places where I could be able to assist you. I can also answer basic questions about foreclosure, short-sales, 1031 exchanges, and basic questions about how the economy and credit markets are functioning and how that affects you.

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My company sells residential real estate in Metrowest, and we have had a been selling real estate in the area for 20 years. My Blog can be read at Real Estate Sales in Massachusetts

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Southborogh Rotary

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Vanderbilt University BA

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My client list is private.

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