A listing broker or agent is required to respond in writing that an offer was submitted
if the cooperating broker who submitted the offer so requests
The listing broker or agent must respond in the affirmative unless the seller has provided
written notification waiving the obligation to have the offer presented
Agent has to present all offers all the way throughout the contract, up to closing
Creation of a counter offer
Any change in an offer, no matter how small creates a counter offer
Counter offer must be accepted and communicated to the other party to create a contract
Proper use of From 340-T: NCAR Response to Buyer's Offer
A valid contract is formed when a contract is signed, delivered and communicated
"Communicating an offer or an acceptance to a principal's agent is the same as
communicating directly to the principal"
Beware Dual Agency is Communication is IMMEDIATE
When a dual agent has been informed that the seller has accepted an offer is
already considered communicated to the buyer
Methods of communicating acceptance:
1|Page| GradeA+ | 2 0 0 2 5
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TestTrackers. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
