In real estate matters, negotiations can take place both verbally and in writing. However, it is important to understand the
differences between signed and verbal negotiations, as they can have different legal implications.
Signed negotiations refer to negotiations that are put in writing and signed by all parties involved. This can include offers, counteroffers, and any other agreements related to the sale of a property. Signed negotiations are typically considered legally binding and enforceable, as they provide a clear record of the terms agreed upon by all parties.
Verbal negotiations, on the other hand, refer to discussions or agreements made between parties without any written documentation. All real estate MUST be in writing to be enforceable. Without written documentation, it can be difficult to prove the terms of the agreement or the intent of the parties involved.
In real estate transactions, it is common for negotiations to take place verbally before any formal written agreements are made. However, it is important to ensure that any verbal agreements are put in writing and signed by all parties as soon as possible to avoid any confusion or misunderstandings. This can help protect all parties involved and ensure that the terms of the agreement are clear and enforceable.
In general, it is recommended to work with a real estate agent or lawyer who can help guide you through the negotiation process and ensure that all agreements are properly documented and legally binding.