Verbal Agreement??

[tige]

Hello, My question is there a such of a thing as a verbal agreement that is binding by law between two parties on purchasing a property?The seller agreed to sell his property for $10,000.00 ,then backs out of the deal at the last moment ! Is this illegal and what would be the buyers rights if any??? Thankyou Seriously need to know,

 

[NYClex]

If you are talking about real property, you will probably be out of luck. To be enforceable, contracts involving interests in land need to be in writing in as far as I know all states.

There are only a few exceptions to this writing requirement when it comes to contracts involving land, and that is basically reasonable reliance. But this normally is pretty hard to prove.