A seller lists their property in Langley with a real estate licensee. A buyer submits an offer, which states, 'This offer shall be open for acceptance until 11:59 PM on September 1st, 2023.' At 9:00 AM on September 1st, before the seller has responded, the buyer sends an email to their licensee stating, 'I want to revoke my offer for the Langley property. Please inform the seller immediately.' If the seller receives notice of revocation at 9:30 AM on September 1st, what is the status of the offer?

Question: A seller lists their property in Langley with a real estate licensee. A buyer submits an offer, which states, 'This offer shall be open for acceptance until 11:59 PM on September 1st, 2023.' At 9:00 AM on September 1st, before the seller has responded, the buyer sends an email to their licensee stating, 'I want to revoke my offer for the Langley property. Please inform the seller immediately.' If the seller receives notice of revocation at 9:30 AM on September 1st, what is the status of the offer?

Answer options:

• The offer is still valid as it was expressed to be open until 11:59 PM. ✅ The offer is effectively revoked, provided the revocation was communicated to the seller before acceptance.
• The seller has until 11:59 PM to accept the original offer, regardless of the buyer's revocation attempt.
• The buyer must pay a penalty for revoking an offer before its stated expiry time.

Correct answer: The offer is effectively revoked, provided the revocation was communicated to the seller before acceptance.

Explanation: An offer can be revoked at any time before acceptance, even if a timeframe for acceptance was specified, as long as the revocation is communicated to the other party. Once communication of revocation is received, the offer is no longer available for acceptance.