Tennessee Real Estate Exam Practice Question
A buyer offers 90 % of asking price; the seller rejects but counters at 95 %. The buyer rejects the counter. The original 90 % offer is now
Correct Answer: B
Rationale: When the seller countered the buyer's original offer, it effectively rejected the initial 90% offer, making it no longer valid. The original offer cannot be accepted after a counteroffer has been made.
Option A, "rescinded," implies that the offer was withdrawn by the buyer, which is not the case here. Option C, "irrevocable," suggests that the offer remains open, but it has been invalidated by the counter. Option D, "binding," indicates that the offer would still hold legal weight, which it does not after a counter is issued. Thus, the original offer is null and void.
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