Jones listed his home with ABC Realty for $30,000. He agreed to carry a note secured by a trust deed for $30,000 with 9% interest. The note was to be payable over a 20-year period. Alex, a salesman with ABC Realty, received an offer on these exact terms. However, before the offer was submitted to the seller, Clair, another salesperson in the office, brought in an offer for $28,000 cash. Which of the following is true:

A: Only the offer received by Alex must be presented since it meets the terms of the listing;
B: The offer received by Alex must be submitted first. After the seller has considered it and declined it, the seller should be told about the offer received by Clair;
C: Both offers must be submitted to the seller;
D: The offer received by Alex must be presented first because the offer was written before the offer by Clair was written.

Answer: C: Both offers must be submitted to the seller;

Business

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