Am I stuck selling to my neighbors son because I said yes out loud?

Short answer: probably not, but get it confirmed where you live. In most states, a contract to sell real estate has to be in writing and signed to be enforceable. It's an old rule, usually called the statute of frauds. A handshake and a verbal "ok" on price generally doesn't lock you in. I'm licensed in Virginia, not Missouri, so have a Missouri real estate attorney give you the final word, especially if he paid you anything, wrote anything down, or you exchanged texts agreeing to terms. Those details can matter. Now the practical side. Even if you're legally free, this is your neighbor's son. You'll still be living next to that family until closing day. So handle it like a person, not a lawyer. Here's what I'd do: - Get a real market analysis from a local agent so you know what "a lot more" actually means. Sometimes it's real money. Sometimes, after commissions and repairs, it's closer than you think. - Then talk to him. Tell him you jumped the gun and agreed before you knew what the house was worth. Give him the chance to match fair market value. - If he can't, list it and wish him well. One upside of selling to someone you know is fewer showings and less hassle. That's worth something. Just make sure you know the number before you decide how much.

Nope! Has to be in writing! Let your conscience be your guide.

Ignacio, in most states a handshake on a house price is not enforceable on its own, because real estate sale contracts generally have to be in writing, but do not make any new promises until you confirm your own state's rule. The reason is the statute of frauds. California, for example, requires a contract for the sale of real property to be in writing and signed by the seller (Civil Code 1624), and most other states have a similar rule. There are narrow exceptions, such as part performance or a signed text or email that spells out the terms, so look at whether you ever put the price or terms in writing anywhere. Before you list, I would stop discussing it with the neighbor's son beyond a polite note, and not accept a deposit or sign anything. If you do list, the cleanest, most honest move is to tell him you plan to list and invite him to submit an offer like anyone else. That keeps the relationship and lets the market set the price. I am a real estate professional, not an attorney, so a short consult with a real estate attorney in your state is cheap insurance. If you were selling in the South Bay or Palos Verdes, I would be glad to help. My name is Zoltan Peresztegi. Zoltan

Missouri generally requires signed written evidence for an enforceable home sale, so a spoken yes and a handshake alone usually aren't enough. I would still have a Missouri real estate attorney review the conversation and any texts, emails, payments or other steps either of you took before telling him you're free to sell elsewhere. The agent's claim needs some numbers behind it. Which comparable sales support the higher price, and how much would you likely keep after selling expenses? You don't need to make another commitment while those questions are being answered. Get clear on your legal position and the property's likely value first.

If you're in California, you generally are not obligated to sell your home to your neighbor’s son based solely on a verbal agreement and handshake. California law generally requires a real estate sale agreement to be in writing and signed by the party being held to it. There are limited exceptions, so the details matter, especially if money changed hands, the buyer took possession, or there are texts or other written records of the agreement.

Am I stuck selling to my neighbors son because I said yes out loud?

Speak with a real estate attorney regarding the situation as this is state dependent. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

It depends on what state you’re in, because real estate laws vary by state. In many states, a home sale agreement generally needs to be in writing to be enforceable, but there can be exceptions depending on the circumstances. I’d recommend checking with a local real estate attorney before assuming you’re obligated to sell. And before moving forward, I’d get a comparative market analysis from a local agent so you can understand what your home may be worth on the open market. A handshake doesn’t always mean you’re locked into a deal, but it’s worth confirming before making your next move!

Ignacio, a handshake and a yes out loud usually isn't the same as a signed contract, but I can't tell you for sure where you stand legally. That's a quick question for a Missouri real estate attorney, and I'd ask it before you say anything else to your neighbor's son. Generally, home sales are expected to be in writing to be enforceable. Still, a deposit changing hands or texts confirming the price could complicate things, so bring anything like that to the attorney. If you're clear to list, be straight with him. Tell him you got advice and want to see what the market says. He can still make an offer like anyone else, and if his number holds up, you might sell to him anyway. Don't beat yourself up. Lots of people say yes to a neighbor first. Since I'm licensed in California, talk pricing with a Missouri agent. Alla Novytska, Realtor®, JohnHart Real Estate, DRE #02254775