The Real Estate Encyclopedia
Does A Signature On An Offer Or Counteroffer Constitute Acceptance?
Category - Home Selling Questions - Selling Legal & Closing FAQ's

When either party signs the offer or counteroffer, that party has “accepted” the terms of the contract.  Once all parties have signed a contract, all parties have “accepted” the terms and it becomes a binding contract. 

One side’s signature on an offer or counteroffer indicates only that party’s acceptance. The contract is not binding until both parties have executed the contract. If you, as the seller, receive a new offer before the buyer responds to a counteroffer, you are free to consider or even accept the new offer. The same goes for the buyer, who can “walk” or terminate the contract negotiations by not signing a counteroffer submitted by you, which he or she does not agree to. 

Home Selling Questions - Selling Legal & Closing FAQ's
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