First, le me say that I’m NOT a lawyer. If it really matters then ask one.
OK, so this is happening all the time now. Let’s just say that the Buyer submits an offer on a property through their agent (Transactional or Single agency) and that offer is kicked back and forth “verbally” but in writing via email or text message until finally one party says “I agree to your terms”. Does this email accepting those final terms constitute a valid and executed real estate contract? IMHO, NO IT DOES NOT.
There’s a few things here. As all real estate 101’s know the Florida Statute of Fraud requires real estate sales contracts to be in writing…
“725.01?Promise to pay another’s debt, etc.—No action shall be brought whereby to charge any executor or administrator upon any special promise to answer or pay any debt or damages out of her or his own estate, or whereby to charge the defendant upon any special promise to answer for the debt, default or miscarriage of another person or to charge any person upon any agreement made upon consideration of marriage, or upon any contract for the sale of lands, tenements or hereditaments, or of any uncertain interest in or concerning them, or for any lease thereof for a period longer than 1 year, or upon any agreement that is not to be performed within the space of 1 year from the making thereof, or whereby to charge any health care provider upon any guarantee, warranty, or assurance as to the results of any medical, surgical, or diagnostic procedure performed by any physician licensed under chapter 458, osteopathic physician licensed under chapter 459, chiropractic physician licensed under chapter 460, podiatric physician licensed under chapter 461, or dentist licensed under chapter 466, unless the agreement or promise upon which such action shall be brought, or some note or memorandum thereof shall be in writing and signed by the party to be charged therewith or by some other person by her or him thereunto lawfully authorized.“
The FAR BAR AS-IS Contract does allow for notification from one party to another to be binding when when made to the agent (attorney/broker) for that party…
“Notice and delivery given by or to the attorney or broker (including such broker’s real estate licensee) representing any party shall be as effective as if given by or to that party. All notices must be in writing and may be made by mail, personal delivery or electronic (including “pdf”) media. A facsimile or electronic (including “pdf”) copy of this Contract and any signatures hereon shall be considered for all purposes as an original. This Contract may be executed by use of electronic signatures, as determined by Florida’s Electronic Signature Act and other applicable laws.”
But this would NOT be a notification, this would be an execution of a Contract so unless the Buyer and Seller are negotiating directly (as with a FSBO with no agent involved) then the indication of one party (or their agent) to the other agent of agreed upon terms would not constitute a binding Contract for real estate.
