How is a verbal offer to purchase classified?

A verbal offer to purchase is classified as unenforceable because, in real estate transactions, contracts typically require a written agreement to be legally binding according to the Statute of Frauds. This statute mandates that certain types of contracts, including those related to the sale of real property, must be in writing to be enforced in a court of law.

While a verbal agreement may indicate the intention of the parties to enter into a contract, without written documentation, there is a lack of clear evidence regarding the terms agreed upon. This uncertainty can lead to disputes over the details, such as price, property specifics, or conditions of the sale. Therefore, for a purchase offer to be considered valid and enforceable, it needs to be properly documented in writing, reflecting the agreement of both the buyer and seller.