Contracts
A seller receives multiple offers on their Connecticut home on the same day. The seller is legally:
ARequired to accept the highest offer
BFree to accept, reject, or counter any offer✓ Correct
CRequired to accept the first offer received
DRequired to present all offers to the Connecticut Real Estate Commission
Explanation
A seller is never legally obligated to accept any offer. The seller may accept, reject, or counter any offer received, even if the offer is at or above list price.
People Also Study
Related Connecticut Questions
- A Connecticut home is listed at $425,000. The seller accepts an offer of 96% of list price. What is the accepted offer price?Real Estate Math
- Which Connecticut contract provision allows the seller to continue marketing the property and accept other offers during a specified period even after an offer is accepted?Contracts
- A Connecticut seller's agent receives two offers simultaneously—one at list price with many contingencies and one below list price with no contingencies. The agent must:Agency
- A Connecticut property is for sale at $379,000. A buyer offers 98% of list price. What is the offer amount?Real Estate Math
- A Connecticut seller listed their home for $499,000 and accepted an offer for $484,030. What percentage below the list price did the buyer pay?Real Estate Math
- A Connecticut buyer makes an all-cash offer of $445,000 on a home listed at $469,000. What percentage below the list price is the offer?Real Estate Math
- A Connecticut buyer wants to include a 'home sale contingency' in their offer. This means:Contracts
- A seller in Connecticut who accepts an offer with a home inspection contingency is obligated to:Contracts
Key Terms to Know
Right of First Refusal
A contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Math Concepts
Study This Topic
Practice More Connecticut Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Connecticut Quiz →