What is the name of your state? Oregon
There is a section on our earnest money agreements for the buyer or seller to sign acknowledging receipt of a fully executed copy of the contract. The contract I am referencing is the Seller's Counter Offer. In the acknowledgement section it says, "Seller acknowledges receipt of copies of buyer's signature, which Seller has fully read and understands."
I have a selling agent on my listing that is telling me that it is not a fully executed and/or valid contract if the seller has not signed the acknowledgment. Is that true? The buyer is trying to back out because the seller hasn't signed the acknowledgment yet and also refusing to redeem their promissory note because of that. After today the buyer will be in breach of contract.
I did ask my prinicipal broker and she said no because there is no section in the acknowledgement for accept or reject to be marked, but she also said that this is a legal question and I should ask an attorney, and that is why I am asking here. Thank you.
There is a section on our earnest money agreements for the buyer or seller to sign acknowledging receipt of a fully executed copy of the contract. The contract I am referencing is the Seller's Counter Offer. In the acknowledgement section it says, "Seller acknowledges receipt of copies of buyer's signature, which Seller has fully read and understands."
I have a selling agent on my listing that is telling me that it is not a fully executed and/or valid contract if the seller has not signed the acknowledgment. Is that true? The buyer is trying to back out because the seller hasn't signed the acknowledgment yet and also refusing to redeem their promissory note because of that. After today the buyer will be in breach of contract.
I did ask my prinicipal broker and she said no because there is no section in the acknowledgement for accept or reject to be marked, but she also said that this is a legal question and I should ask an attorney, and that is why I am asking here. Thank you.