Seller Rivera receives an offer from buyer Thompson on a residential property in Edmond, Oklahoma on Tuesday. Rivera’s agent delivers the Property Condition Disclosure Statement to Thompson on the following Thursday before acceptance. What is the correct current-law treatment?
Correct Answer
B) Rivera may accept only after Thompson acknowledges receipt of the statement and confirms the offer in writing
Under the current OREC 2025 RPCDA booklet and 60 O.S. §834, if delivery occurs after an offer has been made, the seller may accept only after purchaser acknowledgment of receipt and written confirmation of the offer. The prior business-day rescission calculation was not supported by the current source.
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Related Topics & Key Terms
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Related Concepts
Radon disclosure involves informing buyers about the presence or potential presence of radon gas in a property. Radon is a naturally occurring radioactive gas that can accumulate in buildings and is the second leading cause of lung cancer.
Fair housing laws apply to a broad range of activities related to housing, including sale, rental, financing, and advertising.
A seller's disclosure statement is a form that sellers complete to inform buyers about the condition and history of the property, including known defects, past repairs, insurance claims, and environmental issues.
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