Questions:
At which stage/s the buyer can retract their offer: (assuming seal is used):
1. Buyer signs the offer that is yet to be presented to seller,
2. Signed offer is in the seller’s agent’s possession or has been presented to the seller,
3. Seller has accepted
4. Seller has countered buyer’s offer.
Answers:
- If not delivered into the Seller’s possession or Seller’s Agents’ possession, then it can be revoked,
- Too late,
- Too late, it has already become a contract,
- Not applicable, not available for acceptance since it has already been rejected.
Brian Madigan LL.B., Broker
Comments 2
So if you send to the sellers agent without it being sent to the seller it can’t be revoked. Correct?
Author
No, it cannot be revoked at that point.
It’s already been sent to the Seller’s agent.
If there was “no seal” on the document, then “yes”, it could be revoked at that point.