Is this legal or illegal?

[Matt Lorenzo]

I put an offer in on a property and the seller accepted it. An hour later the selling agent contacted my agent and stated that another offer came in after my bid was accepted, only the new offer didn’t require an inspection as mine included. The selling agent said he was now going with the other offer because it didn’t require an inspection.

Is it legal to accept an offer and then receive a different one and go with the later after the original deal was verbally accepted?