What is required for a valid contract for the sale of real estate in Delaware?

For a valid contract for the sale of real estate in Delaware, it is essential that the agreement is in writing and signed by the parties involved. This requirement is grounded in the Statute of Frauds, which mandates that contracts for the sale of real property must be written to be enforceable. The signature of both parties serves as a demonstration of their agreement to the terms and conditions laid out in the contract.

While there may be informal agreements or discussions about the sale of real estate, without a written document and signatures, these would not constitute a legally binding contract. The necessity for a written agreement ultimately protects the interests of both the buyer and the seller by ensuring that all terms are clear and agreed upon.

Other options, such as requiring the contract to be oral or to have a closing statement and appraisal included, do not align with the legal standards for a real estate transaction in Delaware. Furthermore, while notarization and recording can be important for various legal reasons, they are not prerequisites for the initial validity of a contract itself.