Q: I’m representing a buyer who made an offer to purchase a residential property. The offer gave the seller three days to accept the offer. The buyer no longer wants to purchase this property and wants to withdraw the offer. The seller hasn’t accepted the offer, and there are two days left until the time-of-acceptance period expires. May the buyer withdraw this offer?
A: Yes. An offer may be withdrawn any time prior to acceptance, even if the time-of-acceptance period hasn’t expired. The withdrawal may be done by verbal or written communication; however, a written withdrawal is recommended.