Under Connecticut law, all of the following would terminate a buyer's offer to purchase real property EXCEPT:
Correct Answer
D) The seller requests additional time to review the offer beyond the stated deadline
A seller's request for additional time to review an offer does not, by itself, terminate the offer. The seller's request is neither an acceptance nor a counteroffer — it is a communication that does not legally alter the status of the original offer. The offer remains open (or lapses at its own deadline) according to its terms. The seller's request for more time does not extend the deadline, but it also does not terminate the offer before the deadline expires.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Contingencies are conditions written into a real estate contract that must be met before the transaction can close. If a contingency is not satisfied, the buyer can typically cancel the contract without penalty.
Contract termination occurs when a contract is ended or discharged, releasing both parties from their obligations. A contract can be terminated through performance, mutual agreement, operation of law, or breach.
A counteroffer is a response to an original offer that changes one or more terms of the offer, effectively rejecting the original offer and creating a new offer. The party who makes the counteroffer becomes the new offeror.
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