The broker receives an earnest money deposit with a written offer to purchase that includes a ten-day acceptance clause. On the fifth day, before the offer is accepted, the buyer notifies the broker that she is withdrawing the offer and demands the return of her earnest money deposit. In this situation
A) the buyer cannot withdraw the offer because it must be held open for the full ten days.
B) the buyer has the right to revoke the offer at any time until it is accepted and recover the earnest money.
C) the seller and the broker have the right to each retain one-half of the deposit.
D) the broker declares the deposit forfeited and retains it for his services.
Answer: B) the buyer has the right to revoke the offer at any time until it is accepted and recover the earnest money.
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