Legal Question in Real Estate Law in Minnesota

Joint Purchase Agreement

My wife and I are selling our home. Before we listed our house on the market we had an interested party who made a ridiulously low offer. We countered and they kept coming back with slightly higher offers (over the course of almost 1 week). Now, they've agreed to our first counter, but since then we've listed our house and had 6 showings in 48 hours. Question: what is my legal obligation to this offer? I signed the counter-offer and both buyers signed the offer but my wife has not. Am I obligated in any way to sell to them? I think the answer is no, but want to make sure.


Asked on 5/04/07, 3:12 pm

1 Answer from Attorneys
Steven Vatndal Law Office of Steven J. Vatndal

Re: Joint Purchase Agreement

Generally, when you make a counter offer you automatically reject the offer or counter offer made by the other side. You can't take back a rejection.

Of course, the actual language in the offer and counter offers in your case or additional details about other communications between you and potential buyers or agents may result in a different answer.

Please e-mail me if you have further questions.

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Answered on 5/07/07, 6:25 am


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