welcome to inside the real estate market
hi there I'm Jamie Johnston broker owner
of Remax condos plus in a strong real
estate market there can be situations
with multiple offers and pressures for
both parties to respond quickly while
verbal agreements can be binding to
parties in most industries they are not
valid or legally binding in real estate
that means the seller can verbally agree
to take the first offer then when they
receive a second they can decide to
accept that instead and sign it that can
lead to unhappy people who think they
have a deal and then they have none the
phrase my word is my bond does not apply
to real estate unfortunately however I
try to conduct my business that way but
I am also aware that the other side is
not bound to that code in real estate so
govern yourself accordingly and remember
real estate what you signed for is what
you get I'm Jamie Johnston thanks for
watching this video please subscribe to
our YouTube channel or you can visit our
website for these videos and the most
up-to-date real estate information on
the toronto condo market