Posted on: 13th Jul, 2010 10:39 am
we went to see a house and put on offer on it.. they told us that the house had a previous offer in april.. and that they would need to call that person and give him 72 hours to respond if he wants to buy the house or not.. the clock started on friday at 4:46 and 72 hours ended on monday at 4:56.. this guy sent out his response at 4:58... 2 min late... my agent said anything after 4:56 then the house would be ours.. he is now not sure since there are checking legally if we get the house or still goes to the first guy. he had 72 ... not 72 hours and 2 min... im not sure at the point.. does anyone has any advice...many thanks
Hi bunny,
The 72 hour clause should be mentioned into the real estate contract. It should be kept in mind that the 72 hours will only be counted keeping in mind the business working days. The weekends and the legal holidays are excluded from the time period.
If there is no written contract between the person who gave the previous offer and the seller, then the concept of 72 hour clause won't come into affect here.
Take care.
The 72 hour clause should be mentioned into the real estate contract. It should be kept in mind that the 72 hours will only be counted keeping in mind the business working days. The weekends and the legal holidays are excluded from the time period.
If there is no written contract between the person who gave the previous offer and the seller, then the concept of 72 hour clause won't come into affect here.
Take care.