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Verbal Agreements

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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


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