Contracts
A South Carolina buyer submits an offer with a 48-hour acceptance deadline. If the seller does not respond within 48 hours, the offer:
AAutomatically converts to an accepted contract
BIs extended by an additional 24 hours by law
CExpires and is no longer binding on the buyer✓ Correct
DMust be formally withdrawn by the buyer
Explanation
An offer that is not accepted within the stated time period expires. The buyer is no longer bound by the offer, and no contract is formed.
Related South Carolina Contracts Questions
- A South Carolina buyer's offer contains a 'contingency removal deadline.' This is important because:
- In South Carolina, a contract for the sale of real estate that was entered into through fraud or misrepresentation is:
- In South Carolina, earnest money deposited on a real estate purchase must be held in:
- In South Carolina, an addendum to a real estate contract:
- A South Carolina listing agreement must include which of the following to be enforceable?
- The South Carolina Residential Property Condition Disclosure Statement is required to be provided by:
- In South Carolina, a buyer who defaults on a ratified purchase contract forfeits their earnest money under a 'liquidated damages' clause. This amount must:
- Under South Carolina law, which of the following is NOT a required element for a real estate contract to be enforceable?
Practice More South Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Carolina Quiz →