Mutual acceptance is the point in time when a buyer and seller reach agreement, in writing, on all terms of a contract.

When a buyer makes an offer to purchase a home, the seller may sign the offer and return it to the buyer. If the signed offer is unaltered, the contract is “mutually accepted.” If the seller makes a small change when signing, it becomes a counteroffer to the buyer.

In real estate transactions, deadlines usually begin from the point that a contract is “mutually accepted.”