Posted by W_B on February 07, 2014 at 11:32:30 from (155.188.183.23):
In Reply to: Should I feel bad? posted by Tony Vidlak on February 06, 2014 at 16:40:47:
Quoting Removed, click Modern View to see
Verbal contracts don't mean squat in real estate transactions. Unless it's in writing it isn't binding. I'd go to her and tell her you are sorry for the error but you found out that the property is worth much more in the current market than the original figure you were thinking and you want $x (discounted for the realtor fee you won't have to pay and the good neighbor discount) for it and will give her first crack at it.
I will say in my area that a half acre isn't a building lot, you have to have several acres, size varies by township, due to the septic system requirements. Where we used to live you had to have five acres.
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