No. Initially we usually make you a verbal offer for your house. We do not consider either of us “legally” obligated until we actually sign a contract. Once you decide you want to accept our offer and you sign a contract, we both have an obligation to follow through with the sale as described in that contract. You should never sign a contract until you have carefully considered the terms and are willing to follow through. If you feel uncomfortable signing a contract, you may want to involve an attorney and or other family members who can advise you. Fortunately, our contracts are relatively simple since we buy houses “as-is.”