If a seller authorizes a broker to accept all cash offers of $108,000 or more while they are away, what should the broker do upon receiving a $110,000 all cash offer?

If a seller authorizes a broker to accept all cash offers of $108,000 or more while they are away, what should the broker do upon receiving a $110,000 all cash offer?

• A. Decline the offer
• B. May accept the offer
• C. Counter the offer
• D. Inform the seller upon their return

Answer: (B)

When a seller authorizes a broker to accept all cash offers of $108,000 or more in their absence, the broker has the authority to act on the seller’s behalf according to those parameters. Since the received offer of $110,000 exceeds the seller's established threshold, the broker can proceed to accept this offer directly. This authority implies that the broker is acting in accordance with the seller's instructions and interests, which legitimizes the acceptance of the offer without needing further consultation or approval from the seller during their absence. It streamlines the process of closing the sale and capitalizes on the favorable terms presented in the offer. Once the seller returns, they will be informed of the accepted offer, allowing for the completion of the transaction in line with the seller's initial agreement with the broker.

When a seller authorizes a broker to accept all cash offers of $108,000 or more in their absence, the broker has the authority to act on the seller’s behalf according to those parameters. Since the received offer of $110,000 exceeds the seller's established threshold, the broker can proceed to accept this offer directly.

This authority implies that the broker is acting in accordance with the seller's instructions and interests, which legitimizes the acceptance of the offer without needing further consultation or approval from the seller during their absence. It streamlines the process of closing the sale and capitalizes on the favorable terms presented in the offer.

Once the seller returns, they will be informed of the accepted offer, allowing for the completion of the transaction in line with the seller's initial agreement with the broker.