Definition
Acceptance is when the seller agrees to your offer without changes. Once accepted, you have a binding contract with legal obligations.
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Acceptance occurs when the seller agrees to all terms presented in the buyer's offer. Once accepted, both parties are legally bound to the agreement unless contingencies are properly removed or the contract is otherwise terminated. If the seller makes any changes to the offer terms, it becomes a counteroffer rather than an acceptance.
Pro Tip
Communicate acceptance quickly and clearly to avoid misunderstandings.
Example
The seller accepted the buyer's offer of $435,000 without modifications, making the contract binding.