Is this a breach of contract?

[PSU333]

What is the name of your state? VA

So my wife and I found a house and sent a contract asking for 270,000 dollars. There was some negotiating and the women who owns the house verbally agreed to 279,900 with a max of 1000 dollars to repair any damages. We agreed to cover up to 1% and after that would renegotiate or break the contract. This was on Friday. My wife and I were supposed to go and sign the reworded contract today but I received a call from my real estate agent and he said the women withdrew her offer. The reason was because another buyer offered the same amount but said he would waive all inspections, so she decided to go with him. Because she gave us a verbal yes, I feel this is a breach of contract, but my real estate agent says he believes it is not. Anyone have any ideas?

[PghREA]

Originally Posted by PSU333

What is the name of your state? VA

So my wife and I found a house and sent a contract asking for 270,000 dollars. There was some negotiating and the women who owns the house verbally agreed to 279,900 with a max of 1000 dollars to repair any damages. We agreed to cover up to 1% and after that would renegotiate or break the contract. This was on Friday. My wife and I were supposed to go and sign the reworded contract today but I received a call from my real estate agent and he said the women withdrew her offer. The reason was because another buyer offered the same amount but said he would waive all inspections, so she decided to go with him. Because she gave us a verbal yes, I feel this is a breach of contract, but my real estate agent says he believes it is not. Anyone have any ideas?

It is NOT a valid contract until both buyer and seller SIGN the contract. You should have initialed the changes on Friday.

[HomeGuru]

Originally Posted by PSU333

What is the name of your state? VA

So my wife and I found a house and sent a contract asking for 270,000 dollars. There was some negotiating and the women who owns the house verbally agreed to 279,900 with a max of 1000 dollars to repair any damages. We agreed to cover up to 1% and after that would renegotiate or break the contract. This was on Friday. My wife and I were supposed to go and sign the reworded contract today but I received a call from my real estate agent and he said the women withdrew her offer. The reason was because another buyer offered the same amount but said he would waive all inspections, so she decided to go with him. Because she gave us a verbal yes, I feel this is a breach of contract, but my real estate agent says he believes it is not. Anyone have any ideas?

**A: I agree with your agent.