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Real Estate
Eileen M. Day REALTOR
BEWARE OF
VERBAL PROMISES
In the old days, a man was as good as his handshake. Even today, many business agreements have been sealed with a handshake and enforced in the courts. However, when it comes to the world of real estate, you cannot-and should not-rely on oral promises. In fact, legislation in each of the fifty states specifically requires that all agreements and conditions relative to the sale of real estate specifically be in writing.
In real estate, oral promises or conditions have little standing. If they are not contained in writing within the agreement of sale, or on other papers relating to the transaction, they are not binding. In fact, the typical agreement of sale usually provides a clause to the effect that all oral statements relative to the transaction made prior to signing the written agreement are invalid.
The only way to put teeth into oral promises is to insist that everything which you think is significant be put in writing. If there is anything we can do to help you in the field of real estate, please stop in at EILEEN M. DAY, Realtor, the Clopton House, Washington, Va., 22747. Phone 675-3033, We're here to ilSlE:
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