Contracts
A seller accepts a buyer's offer and both sign the purchase agreement. Before closing, the seller finds a higher offer. Can the seller accept it?
AYes, the seller can always accept a higher offer before closing
BNo, a signed purchase agreement is a binding contract and cannot be unilaterally canceled✓ Correct
CYes, if the new offer is more than 5% higher than the accepted offer
DNo, but the seller can request that the buyer release them from the contract
Explanation
Once both parties sign a purchase agreement, a binding contract exists. The seller cannot unilaterally cancel it to accept a better offer without risking a lawsuit for breach of contract.
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