Oral agreement: rights and obligations

Questioner

When there is a verbal agreement about the purchase of a property. Where a third party should finance the purchase but is not aware of this and has not seen the property. Conclusion the sale is not going through and no agreement has been signed. Can the selling party then recover costs for viewing and various other matters. The letter speaks of careless conduct and a verbal agreement. This verbal agreement has never been reached with the person who should finance.

Lawyer

There is a chance that the buyer who drops out will have to pay compensation, but that depends very much on all the facts and circumstances of the case. The obligation to pay compensation can even arise if no agreement has been concluded yet, but the negotiations have progressed to the point where the parties could have assumed that an agreement would be reached.