Tip of the Week: Don't Count on Oral Promises

Question:  I am about to purchase a home.  The builder promised that everything wrong will be taken care of and that a handshake will save a lot of paperwork.  Should I trust him?

Answer:  Many a business agreement has been made with a handshake and enforced by the courts.  But when it comes to the never-never world of real estate, you cannot and should not rely on oral promises.  In fact, the law in all states specifically requires that all agreements and conditions relative to the sale of real estate specifically be in writing to be enforceable.  The way to put teeth into oral promises is to insist that everything significant be put in writing.

Let us know your questions so that we can include them in future Weekly Updates.  E-mail us at team@bockrealestate.com