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Question - An offer was made on a property on January 7. Seller has 7 days to accept the offer but, because of illness in the family, did not accept until January 22nd. Under these conditions, which of the following is true?

Posted On Thursday, 10 October 2019 05:00

(A) Buyer must complete the purchase since he did not revoke the offer prior to seller's acceptance
(B) Buyer could demand return of his deposit
(C) Seller can keep buyer's deposit
(D) Buyer's deposit will be divided between broker and seller


Answer:  (B)  Buyer could receive all of his deposit because seller did not accept the offer within the proper time.

Read 2159 times Last modified on Friday, 11 October 2019 06:21
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