Question:
“Gary, I made an offer on a home. The seller sent me a counter offer good for three days, but just two hours later they said they were cancelling it because they were taking another offer. Is that allowed? Aren’t they locked for the three days?”
Answer:
Sorry to tell you, the seller was perfectly within their rights to revoke a counter-offer prior to acceptance.
And you would also have the same right to revoke an offer or counter-offer prior to acceptance. It can be done verbally, but the safest route is to do it in writing.
Since this is ultimately a legal question, please check with a real estate attorney.
