A potential buyer learned this lesson the hard way. He preferred to negotiate orally with the seller for the purchase of real estate in Oakland, California. After several days of oral negotiations, the buyer and seller reached an oral price agreement. The countless details that make up the entire sales contract had not been discussed. Parties who are both in good health should freely accept the terms of the agreement, i.e. without any undue influence, coercion, coercion or misrepresentation of the facts. Both the nephew and aunt agree with the terms of the contract, without putting pressure on each other and with the intention of fulfilling their obligations. If you buy a house, you will have to pay the overdrachtsbelasting (land transfer tax), calculated on the basis of a fixed percentage of the sale price agreed with the seller. There is no need to pay overruns if you get (part of) a house through divorce, marriage or inheritance. The Dutch government has taken the decision to promote the housing market by reducing submersions to 2%. A week later, the same listing agent for the aforementioned property received an SMS from another buyer`s agent. The text read: „The buyer has just seen a unit and is thinking about the costs of renovation and wants to offer your Seller____. I don`t want to waste my time and yours.
Please present this oral offer to the seller to begin the process. But as a general rule, oral contracts are best avoided. You are a recipe for misunderstandings and quarrels, because people tend to hear only what they want to hear, and then make sure themselves that their memory is better than yours. Worse, a dishonest opponent will have more latitude to get out of your agreement. Oral offers usually do not take into account all the important details, as stated in the contract. Price is just one of the most important elements of a contract….