Q: Difference between offer to purchase real property and purchase agreement in Virginia
Buyer and seller entered into vague offer to purchase property in April. No further word from buyer until seller sent letter in August, stating all offers/ contracts have been rescinded. Buyer then called with closing date, saying he'd sue for breach of contract. Is offer to purchase a valid contract and what can sellers do? In offer, stated property and purchase price. No other real details, and no dates.
A: You need a lawyer to review the actual exchanges. If an offer was accepted, it is a contract from that moment on, and it follows its terms until completed or breached.
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