In North Carolina, a verbal or “oral” acceptance of a real estate offer does not create an enforceable contract. To satisfy the Statute of Frauds and create a binding real estate sales contract, there must be a written agreement signed by all parties, and the fact that all parties have signed must be communicated to the party against whom enforcement is sought. Until all of these requirements have been satisfied, there is no contract.
This distinction is important because Commission investigations sometimes reveal brokers telling buyers, sellers, or other brokers that a seller has “orally accepted” an offer or that the parties have an “oral agreement.” These statements are misleading and inappropriate because they may cause someone to believe a binding contract exists when it does not. When a seller says, “I will accept that offer,” the seller is expressing a willingness to accept the offer. This statement is NOT the same as legally accepting the offer.
Would you like to learn more about offers and acceptances? Review the Commission publications, When Does an Offer Become a Contract and Questions and Answers on: Offer and Acceptance.