If a home is priced incorrectly on a website, must the site or agent sell it to you for the stated cost?

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If a home is priced incorrectly on a website, must the site or agent sell it to you for the stated cost?

I recently saw a home listing under $100,000 and it looks too good to be true. If it was listed at $50,000 due to error of some sort does that entitle me, the buyer, to the advertised price?

Asked on July 21, 2011 Massachusetts

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

No, unfortunately it does not. Real estate sales are NOT treated the same as sales of consumer goods. A seller has the right to turn down ANY offer he or she wants to for any reason. (Well, almost any reason: no sexual, gender-based, etc. discrimination in housing is allowed.) So, for example, say it was listed at $50k and you decided you had to have the house no matter what. Even if you offered $500k (or more!), the seller could say "no" if he or she wanted to, for any reason. Since a seller has the right to turn down any offer he or she wants to, there is no way to enforce a lower price against the seller. Once--if--a contract of sale is signed, that's different; once that happens, the price in the contract must be honored, even if the seller realizes he or she is basically giving the property away.


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