QUESTION
Is our acceptance considered a contract?
Asked on Jul 04th, 2014 on Landlord and Tenant Law - Michigan
More details to this question:
We wrote a home buy offer to sellers agent. Seller's agent countered verbally with a final full price counter offer. We wrote and delivered the acceptance of those terms to the seller's agent. Then the seller accepted a different offer a week later. Why is our acceptance not a contract?
4 ANSWERS
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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Under Michigan law a real estate contract has to be in writing signed by both parties.. If you did not get their WRITTEN acceptance then its not a contract.
Answered on Jul 07th, 2014 at 5:12 PM
In real estate, there's no contract until both the seller & buyer sign the agreement.
Answered on Jul 07th, 2014 at 10:38 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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I would have to review the paperwork but suspect your modified offer at different terms would require a formal acceptance by the sellers to create the contract.
Answered on Jul 07th, 2014 at 7:49 AM
Real Property Law Attorney serving Owosso, MI
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Moorhead & Moorhead PLLC
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Without reviewing the documents, it appears that you made an offer to pay asking price after the verbal final counter-offer. Until the offer is accepted by the Seller in writing, there is no contract. There are some exceptions to this general rule but the paperwork would need to be reviewed.
Answered on Jul 07th, 2014 at 7:49 AM