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Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10528
Experience:  Barrister 17 years experience
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IF A VENDOR HAS ACCEPTED YOUR PRICE ON A PROPERTY CAN THEY

Resolved Question:

IF A VENDOR HAS ACCEPTED YOUR PRICE ON A PROPERTY CAN THEY STILL ACCEPT A HIGER OFFER.
Submitted: 10 months ago.
Category: Law
Expert:  Buachaill replied 10 months ago.

1. DearCustomer can you clarify what you mean by accepting your price? Have there been written contracts exchanged? Was there any correspondence? Was this correspondence without prejudice? Was it a purely oral acceptance of your price by an estate agent?

Customer: replied 10 months ago.
the estate agents are saying even if the vendor accepts our offer they will still carrying on trying to sell the property until they have a written mortgage offer us.
Expert:  Buachaill replied 10 months ago.

2. DearCustomer this is perfectly acceptable behaviour by the vendor. Until such times as there is a signed contract a vendor is free to seek out alternative bids and to seek the sell the property where-ever they may get the best price. It is not sufficient to merely make an offer on a property. You need to get a written contract signed before the deal becomes binding. Then the conveyance has to take place in order that the deal becomes final.

Expert:  Buachaill replied 10 months ago.

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