回复:卖房子时withdraw?

You are right that sale of land is with the Statute of Frauds. But it means that any sale of land without a written contract will not be enforced by the court. It does not mean that it is illegal.

Without a written contract the buyer can not ask the court to enforce the sale, but he can still recover damage under doctrine of promissory estoppel, that any detrimental reliance on your promise to sale, such as his expense related to the preparation of the document, will be recoverable from you. Also, some courts will award him lost of opportunity of bargain. Let's say if he finds an interest rate of 7% right now, because of your withdrawal he has to find another deal and another loan later. If the interest rate by then is 10%, you need to pay for the extra. A promise is a promise. Don't make any promise if you have not made up your mind.

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回复:回复:卖房子时withdraw? -whattosayah- 给 whattosayah 发送悄悄话 (701 bytes) () 02/24/2006 postreply 20:06:46

回复:回复:回复:卖房子时withdraw? -apt- 给 apt 发送悄悄话 (1042 bytes) () 02/24/2006 postreply 20:51:29

回复:回复:回复:回复:卖房子时withdraw? -whattosayah- 给 whattosayah 发送悄悄话 (1063 bytes) () 02/24/2006 postreply 21:13:57

回复:回复:回复:回复:回复:卖房子时withdraw? -apt- 给 apt 发送悄悄话 (1848 bytes) () 02/24/2006 postreply 22:10:41

One correction -apt- 给 apt 发送悄悄话 (815 bytes) () 02/24/2006 postreply 22:22:44

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