A salesperson has just obtained the seller’s signature on an offer to purchase. When MUST the buyer receive a copy?
Within 24 hours of the offer’s acceptance
Within 1 business day of the offer’s acceptance
At the closing
In a reasonably practicable period of time
Under49 Pa. Code § 35.331 (Written Agreements Generally),all parties must receive a copy of a signed offer within 1 business day of acceptance.
This ensures that buyers and sellers have full documentation of the transaction.
Delaying delivery of signed contracts can lead to disputes and potential violations of real estate regulations.
Why the other answers are incorrect:
Option A (24 Hours):While fast delivery is preferred, thelaw specifically states “1 business day.”
Option C (At Closing):Buyers must receive a copywell before closing.
Option D (Reasonably Practicable Time):This istoo vagueand does not meet thespecific 1-business-day requirement.
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