Question

Lydia Goodheart has made a written offer to purchase Bud Perkins' home. The offer states that Perkins has five days in which to accept it. The day after Goodheart made the offer and prior to Perkins' acceptance, she informs the broker that she wants to withdraw the offer. The broker should tell Goodheart that:

1) That the offer is irrevocable and she must wait four more days.
2) Only her death would revoke the offer prior
3) She may not resubmit the offer once the five-day period has expired
4) She can withdraw the offer and demand the return of her earnest money

Answer 1

The broker should tell Goodheart that she can withdraw the offer and demand the return of her earnest money.

Step-by-step explanation:

According to the information provided, Lydia Goodheart made a written offer to purchase Bud Perkins' home with a five-day acceptance period. However, before Perkins accepted the offer, Goodheart informed the broker that she wants to withdraw the offer. In this situation, the broker should tell Goodheart that she can withdraw the offer and demand the return of her earnest money.