A local agent recently sent me an offer to purchase on Standard Form 2-T that listed three individuals as “Buyer” . . .

Legal Q&A | Can a seller retract acceptance of an offer if all buyers have not yet signed the contract?

QUESTION: I am a listing agent. A local agent recently sent me an offer to purchase on Standard Form 2-T that listed three individuals as “Buyer” in paragraph 1(b). Only one of those individuals had actually signed the offer. I sent the offer to my client. The price and other terms were acceptable so my client signed the offer and asked me to send it to the buyers’ agent. Although I have repeatedly asked that agent to send me an offer signed by all three buyers, I have yet to receive one. My client is not willing to enter into a contract with only the one buyer who has already signed. Can my seller client retract his acceptance or is it too late?

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