If the buyer puts an offer on a house contingent upon selling their house in 1 month and the seller accepts, can the seller accept another contract?
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If the buyer puts an offer on a house contingent upon selling their house in 1 month and the seller accepts, can the seller accept another contract?
Basically, I put an offer on a house for $300,000 contingent upon selling my house within 1 month. Let’s say they accept that offer. Could they accept another offer from another party within that month of me attempting to sell my house?
Asked on January 6, 2012 under Real Estate Law, Missouri
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
A written contract is absolutely needed here. An offer and acceptance are here but a third item is needed for an enforceable contract and that is consideration. If this is actually a contract to purchase, you would need to give something up as well. Here, the seller gave up the ability possibly of selling to someone else but unless you gave some form of consideration, then this may not be enforceable. Further, be sure of what you agreed to and what the seller agreed to, either an actual purchase or an option to purchase.
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