Contracts
A Mississippi seller receives two competing offers at the same time. The seller may legally:
AAccept both offers and let the buyers compete for the property
BAccept one offer, counter the other, or reject both — but cannot accept two offers on the same property simultaneously✓ Correct
CHold both offers for 48 hours before deciding
DHave the listing agent choose which offer to accept
Explanation
A seller can only sell the property once. While the seller can counter or reject either offer, accepting two offers for the same property simultaneously would create conflicting contracts and potential legal liability.
Related Mississippi Contracts Questions
- A Mississippi purchase contract requires closing 'on or before' August 15. The seller is ready to close August 10 but the buyer requests August 14. The seller must:
- A Mississippi listing agreement expires without a sale. The seller then sells the property themselves to a buyer the agent had shown the property to during the listing period. The agent may be entitled to compensation if the listing agreement contained a:
- A Mississippi real estate contract is signed under duress. The effect on the contract is that it is:
- Under Mississippi law, an oral agreement to purchase real property is generally:
- A 'net listing' in Mississippi is:
- A Mississippi commercial lease grants the tenant a 'right of renewal.' This means the tenant may:
- In Mississippi, an earnest money deposit in a real estate transaction should be deposited:
- A Mississippi seller includes a personal property item (dining room table) in the sale by listing it in the purchase contract. This is called a:
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →