Is contract at risk??
Hi fellow BPers!
I have an interesting question about Purchase/Sale agreement dates.
I have my home for sale and the buyer (electronically) signed the agreement on April 15th and then sent it to me. I ALSO signed it on April 15th. They signed it first on the 15th and then I signed it -- same day. My agent sent the buyers agent a copy on the 16th (following day).
In the meantime, a previous party has expressed interest in the property and upped their offer enough to get my attention.
Here's where it gets interesting. According to my contract, "Buyer shall have 10 calendar days after the date of acceptance of the contract by both parties to have inspections, environmental inspections, and/or tests completed."
The buyer has scheduled to have the inspection on April 26th.
I told my agent that I thought that the buyer is missing the inspection date by one day. She tells me that because she didn't get the agreement back over to the buyer until the following day, that they would have until April 26th. Since both myself and the buyer had signed it on the 15th, it didn't seem to matter as to when she delivered it to them. On the other hand, if she took 7 days to notify/deliver it to the buyer, it would not have been fair to them to only have 3 days to have the inspection. Possibly it's a matter of both parties KNOWING that the agreement has been signed?
Interested in anyone that might have experience with this.
Thanks,
Dave