Two buyers have offered to buy our FSBO home & give us Earnest Money checks. No contract has been signed or checks received. Are we obligated to sell to first buyer, who will apply for loan tomorrow, or do we have option to choose 2nd buyer who has been approved & has substantial down payment?

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 Tags: Residential sale

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Jason Ottmann    February 27, 2009

What state are you in? In Pennsylvania a verbal offer is not binding. Contracts must be written and signed by all parties to be legal. In PA you would be free to go with whatever contract you wished to sign.