medium · National Real Estate Exam
A buyer makes an offer on a property. The seller changes the price and the closing date and signs the document.
What is the legal status of the original offer?
- It remains valid and binding on the buyer for 48 hours.
- It is an executed contract once the seller signs the changes.
- It is partially accepted, with only the changed terms needing buyer approval.
- It is terminated and replaced by a counteroffer.
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