A licensee listed a property that had an unfinished garage. The licensee received an offer subject to the garage being finished. Was a contractual obligation created?

While both parties may have expressed interest in a transaction, a contract requires an acceptance from the seller. Merely discussing terms or showing interest does not constitute a legally binding agreement until the seller formally accepts the offer.

Although the buyer made a specific offer, the existence of a definite offer does not equate to a binding contract. The seller’s acceptance is necessary to transform the offer into a contractual obligation, which is missing in this scenario.

This statement is misleading; while some contracts do require written form and notarization (like real estate transactions in many jurisdictions), not all contracts require these conditions to be valid. In this situation, the core issue is the lack of acceptance from the seller, not the format of the agreement.