You can negotiate with and sell to the second bidder. The Conn statute of frauds says that a contract for sale of real estate is not enforceable unless it's in writing and signed by both parties. If you haven't signed their offer yet accepting it, you're ok. If you sent them an offer and they signed it accepting, you're stuck unless the offer expired on its own terms before they signed it. (Then, their signature becomes a counter-offer.)
Sec. 52-550. Statute of frauds; written agreement or memorandum.
(a) No civil action may be maintained in the following cases unless the agreement, or a memorandum of the agreement, is made in writing and signed by the party, or the agent of the party, to be charged: (1) Upon any agreement to charge any executor or administrator, upon a special promise to answer damages out of his own property; (2) against any person upon any special promise to answer for the debt, default or miscarriage of another; (3) upon any agreement made upon consideration of marriage; (4) upon any agreement for the sale of real property or any interest in or concerning real property; (5) upon any agreement that is not to be performed within one year from the making thereof; or (6) upon any agreement for a loan in an amount which exceeds fifty thousand dollars.
Start a bidding war!
Tracey
------------------
This is not legal advice and you are not my client. Double check everything with your own attorney and your state's laws.
[This message has been edited by Tracey (edited April 21, 2000).]
