The answer lies in the intricate interplay of three fundamental legal concepts: offer, acceptance, and consideration. The most common manner in which the power of acceptance can be terminated is through expiration or lapse of the offer.Learn the steps in a real estate transaction and what happens with sale of property. Find a real estate lawyer. A seller can legally still accept any other offer up until attorney review conclude as the deal isn't officially under contract. The California real estate purchase contract is very long and daunting for most buyers. To make an "as-is offer" is to state that you, the buyer, will take the property in the condition it is in as of the date you make the offer.