If a buyer withdraws an offer before it is accepted, what is the legal standing?

When a buyer withdraws an offer before it is accepted, the legal standing is that the buyer can do so without consequences. The key point here is that an offer is a unilateral agreement which is not binding until it has been accepted by the seller. Until that acceptance occurs, the buyer retains the right to withdraw the offer at any time and is therefore not under any obligation to proceed with the transaction.

This principle is foundational in contract law, where the freedom to revoke an offer provides flexibility and protects the interests of the buyer. Once the seller accepts the offer, however, it typically transforms into a binding contract, and the buyer would then have legal obligations that could lead to consequences if they attempted to withdraw.