Do I have to sell my house if there have been a series of offers and counteroffers?
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Do I have to sell my house if there have been a series of offers and counteroffers?
I am selling my house. I had an offer from a potential buyer. After the
expiration time of the offer, I initiated a counter offer which my agent drew up
and sent to me for signature. I did not actually sign it until a couple hours
before the counteroffer expired. When I did sign, it was sent to the buyer who
signed it the next day which was after the expiration of the counteroffer. Is
this binding? Do I have to sell my house? I have changed my mind and think I
want to keep it.
Asked on September 6, 2016 under Real Estate Law, Georgia
Answers:
S.L,. Member, California Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
A contract requires a valid offer and valid acceptance.
An offer is effective upon receipt. Although the deadline for the original offer had elapsed, you made a counteroffer and signed it before it expired which constituted a manifestation of present contractual intent. Acceptance of the counteroffer is effective upon dispatch. Therefore, although the buyer signed it after it had expired, it was effective upon dispatch. Consequently, you have a binding contract for the sale of your house.
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