Contracts
A counteroffer in Minnesota real estate transactions legally:
AExtends the original offer for 72 hours
BRejects the original offer and creates a new offer✓ Correct
CRequires mediation before the buyer can respond
DMust be submitted to the MLS within 24 hours
Explanation
A counteroffer legally terminates the original offer and substitutes a new offer. The original offeror is under no obligation to accept and may choose to walk away.
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