Saturday, June 25, 2011

You must convey Acceptance!

If you don't tell the Sellers that your Buyers have accepted their counter proposal within the deal timeline, Do you still have a deal?

No. That Acceptance needs to be clearly relayed to all parties.

However, an offer is not completed unless it is communicated to the seller or seller’s agent, either by personal delivery, fax or email. Therefore, a buyer can still cancel their offer at any time before it is communicated. That is why an offer might be registered but never delivered. The buyer changed his or her mind.

Mark Weisleder is a lawyer, author and speaker to the real estate industry. Contact Mark at

It is imperative that the Acceptance be communicated clearly. The Agreement of Purchase and Sale contains a clause that clearly indicates and the person (Buyer or Seller) that is doing the accepting.

I recently had this exact issue; whereby the Buyer Accepted the sign back from the Sellers but the Selling Agents neglected to advise us in writing that they bought the house. We waited past the deadline of timeline in the sign back. "The Team" had delegated someone to respond who went home at 5 PM.

In a different situation we may have moved on to Buyer B and then accepted their offer. This would have placed Buyer A with a signed contract without conveyance of acceptance in jeopardy. Who would be responsible for not delivering the house you bought? Did we sell it twice? or just Once? What do you think?

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