In Delaware, what must occur to have a valid acceptance of a real estate offer?
Why The seller accepts without modification AND communicates that acceptance to the offeror (buyer or their agent) before the offer expires Is Correct
Answer B: The seller accepts without modification AND communicates that acceptance to the offeror (buyer or their agent) before the offer expires
Exam Tip: Contracts
Contract questions frequently test the essential elements required for a valid contract. Remember: competent parties, mutual consent, lawful object, and sufficient consideration. Watch for void vs. voidable distinctions.
People Also Study
Related Delaware Questions
- A Delaware property owner who dies intestate (without a will) has their property distributed according to:Property Ownership
- Under Delaware agency law, what duty requires an agent to place the client's interests above their own?Agency
- Delaware real estate is transferred from seller to buyer by delivery and acceptance of a valid:Property Ownership
- A Delaware salesperson may advertise property in their own name WITHOUT identifying their broker. True or False?Delaware License Law
- In Delaware, a valid real estate contract requires all of the following EXCEPT:Contracts
- The Delaware Real Estate Commission consists of how many members?Delaware License Law
- A buyer's loan-to-value ratio is 80% on a $450,000 purchase. What is the required down payment?Real Estate Math
- If a Delaware buyer's agent shows the buyer a property listed by their own firm, the minimum ethical requirement is to:Agency
Key Terms to Know
A contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
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.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
State-Specific Concepts
Study This Topic
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →