What is the difference between a verbal versus a written offer?

(09.07.02) An offer, as defined in Black's Law Dictionary, is "The act or an instance of presenting something for acceptance."  A verbal offer, as it pertains to the sale of real estate, is a spoken offer (that is, not in written form). Conversely, a written offer is one that has been committed to paper. While real estate can be sold via either verbal or written offer, ONLY a written offer is deemed to be enforceable. This means if one party breaks their promise prior to the completion of the sale, only a written offer is viewed by the courts as legally sustainable.

In the course of real estate sales, verbal offers are sometimes used to add convenience and speed to a transaction. Once a verbal agreement is reached, it should be committed to a written document as soon as is practical. It is considered good real estate practice to commit verbal agreement to writing as soon as possible. It is a part of a REALTOR®'s responsibility to their client to commit all offers to written form as soon as possible to protect all parties.

Disclaimer: These answers are in general terms and may vary with specific factual circumstances.