A buyer submits an offer to purchase a house, giving the listing broker an earnest...

Vendor: Real Estate
Product: NCREC-Broker-N
Update on: Jan 7, 2026
Questions: 125

Real Estate NCREC-Broker-N Question Answer

A buyer submits an offer to purchase a house, giving the listing broker an earnest money deposit to hold. The offer gives the seller four days to respond. The next day, the buyer changes their mind and contacts the listing broker to withdraw the offer and demand the earnest money back. The seller had not even had time to review the offer. Which statement is TRUE?

The buyer's offer must remain open for another three days.

The buyer can withdraw the offer, but they forfeit the earnest money.

The buyer can withdraw the offer and get the earnest money back.

The buyer can get the earnest money back only if they make an offer on another property.