In the world of real estate, verbal agreements are a common occurrence. Two parties may come to an agreement on a property transaction, such as the sale or lease of a property, without putting it in writing. However, verbal agreements can be risky and potentially lead to legal issues in the future.

Verbal agreements are not legally binding in most cases, especially in real estate transactions. This means that if a dispute arises, it can be difficult to prove what was actually agreed upon. Without written documentation, both parties may have different interpretations of the agreement and this can lead to serious conflicts.

Furthermore, verbal agreements can result in misunderstandings and miscommunications between the parties. For example, one party may believe that certain terms were agreed upon, while the other party may have a different understanding of what was said. Without a written agreement, there is no proof of what was intended.

Moreover, certain real estate transactions require written agreements by law. For example, agreements related to the sale, purchase, or lease of a property must be put in writing to be considered valid. This is to ensure that all parties involved have a clear understanding of what they are agreeing to, and to avoid any confusion or conflicts in the future.

Even if parties agree to a verbal agreement, it is always best to put it in writing. A written agreement strengthens the agreement and makes it easier to enforce in the future. It also ensures that everyone is on the same page and that all important terms and conditions are documented.

In conclusion, verbal agreements in real estate are risky and potentially lead to conflicts and legal issues in the future. It is always best to put a real estate agreement in writing to ensure that everyone involved has a clear understanding of the terms and conditions. This helps to avoid confusion, misunderstandings, and conflicts in the future, and ensures that all parties are protected.