Which statement about a seller's obligation when receiving an offer is true?

Study for the UBC Real Estate Exam. Access flashcards and multiple choice questions with hints and explanations. Enhance your preparation and ensure success!

Multiple Choice

Which statement about a seller's obligation when receiving an offer is true?

Explanation:
The main idea is that the seller controls the response to an offer. An offer is just a proposal, and it becomes binding only if the seller accepts it and acceptance is communicated. Because of that, the seller is not obligated to accept every offer—they can reject it, or they can propose changes through a counter-offer. A counter-offer replaces the original offer and ends the seller’s acceptance of that initial proposal. The seller also isn’t required to disclose all offers to the buyer; confidentiality and how offers are handled are governed by practice rules and the agents’ duties.

The main idea is that the seller controls the response to an offer. An offer is just a proposal, and it becomes binding only if the seller accepts it and acceptance is communicated. Because of that, the seller is not obligated to accept every offer—they can reject it, or they can propose changes through a counter-offer. A counter-offer replaces the original offer and ends the seller’s acceptance of that initial proposal. The seller also isn’t required to disclose all offers to the buyer; confidentiality and how offers are handled are governed by practice rules and the agents’ duties.

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