Which party has the final authority to accept or reject an offer to purchase?

The seller has the final authority to accept or reject an offer to purchase because they are the party with ownership of the property being sold. In a real estate transaction, once the buyer submits an offer, it is a proposal to enter into a contract. The seller can evaluate the offer based on various factors, such as the offered price, contingencies, and terms, and ultimately make the decision whether to accept the offer, reject it, or propose a counteroffer. This authority rests solely with the seller, as they are the ones transferring ownership and thus have the primary decision-making power regarding the transaction.

The role of the buyer in this process is to make a proposal, but they do not have the authority to finalize the acceptance of that proposal; they must wait for the seller's response. Similarly, the lender is primarily involved in financing the transaction and does not have a say in the acceptance of purchase offers. The listing agent acts on behalf of the seller, providing assistance and guidance during the process, but they do not have the authority to accept or reject offers independently. Therefore, the seller's final say is crucial in the offering process.