Contracts
A Nebraska seller accepts a buyer's offer. The seller's agent then receives a higher offer from another buyer. The seller:
ACan accept the second offer since it's better
BIs bound by the first accepted contract✓ Correct
CCan present the second offer as a backup
DMust notify the first buyer within 24 hours
Explanation
Once an offer is accepted and communicated, a binding contract exists. The seller is legally bound to the first buyer.
Related Nebraska Contracts Questions
- A buyer's offer includes a condition that the sale only proceeds if the buyer's current home sells within 60 days. This is a:
- Specific performance as a remedy for breach of a real estate contract allows the non-breaching party to:
- A counteroffer made by the seller legally:
- In Nebraska, an option contract requires the optionee to:
- A counteroffer made by the seller in response to a buyer's offer:
- An 'acceleration clause' in a Nebraska mortgage means:
- An option contract in real estate gives the optionee (buyer) the right to:
- A Nebraska seller's disclosure that a property was the site of a homicide is:
Practice More Nebraska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nebraska Quiz →