Upon making a written offer, how long does seller have to reject?

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Upon making a written offer, how long does seller have to reject?

Must it be in writing? And if there’s a counter offer, must it be in writing also?

Asked on October 14, 2012 under Real Estate Law, Maryland

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Absent a time restriction for an offer to be accepted, the law is a reasonable amout of time. A reasonable amount of time varies upon the circumstances of the offer. If the offer has not been accepted, the person making it can then terminate it.

As to offers required to be in writing, the statute of frauds requires anything of value over $500 to be in writing. If there is a written offer, the counter offer if any ordinarily needs to be in writing as well.


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