Question

A property developer is negotiating the purchase of several acres of land from the owner to develop a residential complex. The owner has made an attractive offer that is set to expire within 24 hours. The property developer wants more time to consider the offer before making a final commitment. What should the property developer do to gain additional time? Reject the offer and make a new offer later. Make a counteroffer on slightly different terms. Enter into an option agreement with the owner. Allow the offer to lapse and make a new offer later.

          A property developer is negotiating the purchase of several acres of land from the owner to develop a
residential complex. The owner has made an attractive offer that is set to expire within 24 hours. The
property developer wants more time to consider the offer before making a final commitment. What should
the property developer do to gain additional time?
Reject the offer and make a new offer later.
Make a counteroffer on slightly different terms.
Enter into an option agreement with the owner.
Allow the offer to lapse and make a new offer later.

A property developer is negotiating the purchase of several acres of land from the owner to develop a
residential complex. The owner has made an attractive offer that is set to expire within 24 hours. The
property developer wants more time to consider the offer before making a final commitment. What should
the property developer do to gain additional time?
Reject the offer and make a new offer later.
Make a counteroffer on slightly different terms.
Enter into an option agreement with the owner.
Allow the offer to lapse and make a new offer later.

Added by Courtney S.

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