Online Real Estate Auctions Legally Binding?

[TTboy]

What is the name of your state (only U.S. law)? Arizona

We bid on and had our bid accepted for a storage garage in Arizona on a popular online auction site. The seller contacted his realtor to draw up the paperwork after the auction ended with us as the "winners". Soon after the seller called saying he had made a mistake and he can't sell the garage for the price that we had won it at. He wanted more money. According to ebay it is a legally binding contract but we would need to go before a Judge and see what they say.

Any history on these types of transactions. Naturally I want to complete the transaction but the seller is backing off the agreement. Any precedents?

 

[justalayman]

you need to read their terms of use where they specifically state that RE sales are not binding. You also need to understand that RE sales contracts must be in writing to be valid.

In other words, if there is no written contract, there is not a binding contract, period.

Policy overview

A non-binding bid is a bid that shows a buyer's interest in purchasing an item, but it doesn't create a formal contract between the buyer and the seller.

All bids made in the Real Estate and eBay Motors vehicles categories are considered non-binding.

 

[FlyingRon]

A contract must be in writing as Justa says. Online auctions don't qualify. EBAY even specifially states they are not binding in their terms, it's merely an advertising and negotiation as to what MIGHT be an acceptable offer.

 

[HomeGuru]

What is the name of your state (only U.S. law)? Arizona

We bid on and had our bid accepted for a storage garage in Arizona on a popular online auction site. The seller contacted his realtor to draw up the paperwork after the auction ended with us as the "winners". Soon after the seller called saying he had made a mistake and he can't sell the garage for the price that we had won it at. He wanted more money. According to ebay it is a legally binding contract but we would need to go before a Judge and see what they say.

Any history on these types of transactions. Naturally I want to complete the transaction but the seller is backing off the agreement. Any precedents?

**A: is this storgage garage real property? Is it a condo? Please describe it.