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What is sellers acceptance?

Definition of Acceptance This agreement is made when the seller signs the contract, thereby accepting the offer made by the buyer. Once the seller has accepted the offer, the contract becomes binding, meaning that both parties are legally obligated to fulfill the terms of the agreement.

What happens when a seller accepts an offer?

In theory, sellers can take as long as they want before responding to an offer, but most listing agents get back to buyers within a few days. For the most part, 24 to 48 hours seems to be the standard observed by most sellers and their agents, but there are some exceptions.

What does it mean when a seller accepts your offer?

Offer and acceptance occur when the seller accepts a buyers offer on the home, usually by signing a Purchase and Sale Agreement already signed by the buyer. This concept is also known as mutual acceptance.