Sarah submits an offer on a property at 2:00 PM with a 6:00 PM irrevocable time. At 5:30 PM, she wants to withdraw her offer. Can she do this?
Correct Answer
B) No, she cannot withdraw during the irrevocable period
During the irrevocable period, the buyer cannot unilaterally withdraw their offer - it remains open and binding until the specified time expires. The irrevocable period is designed to give the seller time to consider the offer without worrying about it being withdrawn.
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Sarah is a real estate agent representing both the buyer and seller in the same transaction. What type of representation is this called and what must she do?
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