Online House Hunting

Does accepting an verbal offer on a house sale commit you to selling?

Also, can the estate agent ask for money if you drop out of selling your property? thanks =)

Public Comments

1. There is no such thing as a verbal contract when buying real estate. EVERYTHING must be in writing to be binding.
2. No. on both questions. You do not have to sell even though you have accepted an offer. Most Agents do not charge if you take the house off the market. You need to read their contract. UK.
3. You phone them up and say you have changed your mind .. the buyer may get all upset and suggest you should pay any costs they have entered into, but there is nothing they can do, even if they have paid for a Survey etc. In UK, TYPICALLY the Estate Agent gets paid ONLY when the house is sold ... (this will be stated in the Terms & Conditions of the Contract you signed .. and plainly didn't read)