contracts

acceptance

Acceptance is the offeree's unconditional agreement to all the terms of an offer, which creates a binding contract once it is communicated to the offeror. In real estate, acceptance must generally be in writing and match the offer exactly; any change in terms is not an acceptance but a counteroffer, which rejects the original offer. An offer can usually be withdrawn any time before the acceptance is communicated.

Exam tip: Watch for the "mirror image" rule: changing even one term creates a counteroffer. A contract forms when acceptance is communicated, not just signed.
Example: A seller signs a buyer's offer exactly as written and the agent delivers it to the buyer, so acceptance is complete and a contract exists.

1. A seller signs a buyer's written offer and hands it to the seller's own listing agent to deliver. Before the listing agent communicates the acceptance, the buyer calls the listing agent and revokes the offer. What is the most likely result?

Answer & explanation

Answer: A. An offeror may revoke any time before acceptance is communicated, and delivering the signed offer to the seller's own agent is not communication to the offeror. Signing alone does not form the contract, and an earnest money deposit does not convert an ordinary offer into an option.

Related terms & state variants

counteroffer meeting of the minds mutual assent offer

Sources

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Last verified: 2026-10-23