Legal Question in Civil Litigation in Indiana

Verbal contract for real estate.

I attended an auction for real estate.

The property was divided into 3 parts.

2 of which were farmland and the third containing the house.

Before the auction met with a farmer also interested in the property.

Since the farmer was not interested in the house and I was not interested in the land we entered into a verbal contract to bid together on the property.

Having him buy it, then sell me my section at a later date.

At the auction we won the bid and agreed on what I was to pay for my section.

Now he is breaching the contract.

Stating that her either is keeping my section or having it appraised and charging me more. Which he tells me is on the advice of his banker.

I have began to research this and wander if this is a winnable case.

If so besides proving the verbal contract, is there any other laws I should be researching.

Please help point me in the right direction.


Asked on 1/09/01, 1:45 am

1 Answer from Attorneys
Michael Cortson Law Office of Michael D. Cortson, Esq.

Re: Verbal contract for real estate.

Hello,

Typically, transactions involving real estate must be in writing. However, your prior agreement for the partnership might be enforced. It is always best to put in writing first. I don't know the values involved, but you are looking at a good $3,000 in legal fees to find out.

Michael Cortson

attorney at law

Read more
Answered on 1/12/01, 1:07 pm


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