Our agent said that it doesn't matter if a binder is in place, because other offers can still be made and accepted during this time. An unsigned offer is not an accepted offer, they are under no obligation and can change their mind until that offer is signed.(e) A notice of offer and acceptance agreement will be issued in writing to the representative or self-represented applicant. An accepted offer binds neither party. Therefore, you should expect the listing to remain active until both parties sign on the dotted line. This article examines the ins and outs of backing out of unsigned versus signed contracts on properties in New York State and examines how to mitigate risks. In order for there to be a binding contract, there must be a meeting of the minds, an offer and an acceptance. A binding contract must have a specific and understandable offer of a valid item that the other party accepts. Unlike in other states, you are not expected to sign a form contract when you make your offer. A mutually accepted MOU may be found to constitute a binding and enforceable agreement in the absence of a more formal contract.