A Man Put Up $10,000 as Earnest Money on a Property

question 12

Multiple Choice

A man put up $10,000 as earnest money on a property for sale. The next day, he needed the money back and attempted to cancel his offer. Which of the following is true?

• A) He can get out of the offer because he has a three day right of rescission.
• B) The decision would be entirely up to the broker.
• C) He can get out of the offer because of the six-day right of rescission.
• D) He would have to revoke the offer before the seller accepted it.

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