I am speaking of private party transactions. Has anyone agreed verbally or via email to selling a deeded week and then received a significantly larger offer by another party...and sold it to the 2nd party instead? I definitely understand buyers backing out, especially only after making a verbal or email agreement. I know bother are possible, just not sure how often they occur. Thank you
I recall from a business law class that in order for there to be a Contract, that there has to be an offer, an acceptance and consideration (e.g., down payment, putting money in escrow, etc.). It doesn't sound like you got any down payment?
If you communicated with your first potential buyer that you received a secondary offer that is good enough that you can't turn it down. And then offer that first buyer the same terms as the second offer. They'll probably be angry and call you names and perhaps hang up on you, but if they really want the TS, they may accept it. In either case your dilemma will be solved.
Make sure to get a down payment from whichever buyer you accept. Also, make sure that everything is spelled out in writing, like first year of usage, who pays the taxes and maintenance fee (and when), who pays for the closing, what closing agent you'll use, any resort documentation fees, the form of the payment (e.g., cashier's check, wire transfer), etc. If you miss any of these things, it can make your "deal" fall apart or someone will end up paying for something that they weren't planning.
