Contracts
In Indiana, if a seller rejects a buyer's offer and makes a counteroffer, the original offer:
ARemains open until the buyer responds
BIs automatically extended for 48 hours
CIs terminated and no longer available for acceptance✓ Correct
DIs held in reserve until the counteroffer expires
Explanation
A counteroffer is a rejection of the original offer and the creation of a new offer. Once the seller counters, the original offer is terminated and the buyer is not obligated to accept or respond.
Related Indiana Contracts Questions
- The 'time is of the essence' clause in an Indiana real estate contract means:
- An assignment of an Indiana real estate purchase contract transfers:
- If a buyer receives the Indiana Seller's Disclosure after signing the purchase agreement, the buyer has the right to:
- An Indiana purchase agreement signed under duress (e.g., the buyer was threatened) is:
- In an Indiana purchase agreement, earnest money is typically held by:
- A 'subject to financing' contingency in Indiana specifies which of the following details to be complete?
- An Indiana lease with an option to purchase (lease-option) gives the tenant:
- An earnest money deposit of $5,000 is held by the listing broker in Indiana. At closing, this money:
Practice More Indiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Indiana Quiz →