Under what condition can a purchaser withdraw an offer within five days of making it?

Study for the Real Estate Contract Test. Improve your knowledge with interactive flashcards and multiple-choice questions, each equipped with hints and explanations. Prepare well for your exam!

A purchaser can withdraw an offer within five days of making it if they haven't been notified of acceptance. This is rooted in contract law principles which state that an offer is not binding until it has been accepted by the offeree or until the offeror is notified of the acceptance. If the purchaser has not received any notification of acceptance, they retain the right to revoke their offer within the specified timeframe without any legal consequences.

The other conditions presented can alter the situation in various ways. For instance, if a counter-offer is made, the original offer is considered null and void, effectively ending the purchaser's right to withdraw since the original offer has already been replaced by a new proposal. Likewise, the expiration of a listing does not inherently impact the status of the offer unless stated otherwise; it pertains to the validity of the real estate contract rather than the purchaser's right to withdraw their offer. Additionally, if notified of acceptance, the purchaser no longer has the option to withdraw, as acceptance completes the contract. Understanding these nuances helps in grasping the flexibility and constraints surrounding offers in real estate transactions.

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