Under Ohio law, seller's agent Julia receives a full-price cash offer from a buyer. Before Julia can present the offer to the seller, a second buyer submits a higher offer. Under Ohio agency law, what should Julia do?
Correct Answer
C) Present both offers to the seller simultaneously and let the seller evaluate them
Under Ohio agency law, the seller's agent must present all offers to the seller. When multiple offers are received before presentation, they should be presented simultaneously so the seller can evaluate all options and make an informed decision.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.
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