Delivery Definitions and Home Inspection Negotiations
The following scenario is based on a real life situation that setteled in my office recently. The Dates have been changed to "protect the innocent" as they say on Dragnet, but the time periods involved and delivery methods used are exactly as they happened:
Dear Marcus:
Thank you for taking my call late last evening, but after talking it through with you, I still need some clarification - sorry about that.
Listed below are the events that took place regarding days back and forth. The Home Inspection provides 7 days for the initial contigency (meaning that a copy of the report and an addendum specifying the repairs requested by the Purchaser), then 3 days for the Seller to Counter, then 3 days for the Purchaser to respond, then 2 days for any additional negotiations to go back and forth.
12/26/2006 - Purchasers faxed Home Inspection
12/29/2006 - Sellers faxed response to home inspection (3 days)
1/1/2007 - Purchasers faxed response to home inspection (3 days)
1/3/2007 - Sellers signed on the 2nd, but physically dropped off on the 3rd (2 days)
1/4/2007 - Purchasers faxed response to home inspection (1 day - though I believe we had 2 available)
With all that in mind, it would be my belief that they have two days to respond to our last written offer. They responded verbally over the phone last evening , saying they had a real problem with the findings of the home inspection and their getting ready to VOID the contract. It was really only two more thing that needed initials, neither which are huge issues.
Would the contract become void 2 days from when our request was sent, or from when they sent their request to us. If at this time our client accepted their original request from 1/3/2007, do we have the right to initial their original request back to us (from 1/3, prior to our client's writing in some things and faxing to them? That would have all parties in agreement.
Look forward to hearing back from you.
=========
You are correct. The Contract will become void on the second day following delivery of your last counter offer. So if you delivered your last counter offer on January 4, day one is January 5, 2007 (today) and day two is January 6, 2007 (remember that for the purposes of calculating time periods, day one is the day following Delivery according to Paragraph 2 of the Virginia Jurisdictional addendum.)
Now- this could be more complicated. It occurs to me after reading your e-mail that the method you used to deliver your notice was FAX. You got a phone call, but no written acknowledgement of your FAX. As you know, under Paragraph 1 of the new Virginia Jurisdictional Addendum, Notices are deemed delivered the day they are acknowledged in writing when Fax is the method of delivery. Until they acknowledge receipt of your fax in writing, your notice has not been delivered. Therefore, you can revoke your counter offer and accept their previous counter offer before 9 pm tonight. Just be sure to deliver your acceptance by hand or by courier today before 9 pm. (remember, day 1 to respond to the offer they gave 3rd was yesterday, the 4th. Today the 5th is day 2 until 9 p.m.).
Call me if you need further clarification.
===========
Dear Marcus:
What can we say---THANK YOU!!!! You're such a good sport about being available for us when we're in a crunch and we certainly appreciate it.
I did drive to their home and got a signature for acceptance of a fuly ratified removal of home inspection contingency addendum. All is well. We'll look forward to seeing you at closing.
+++++
Some of you may be wondering, what about all the unacknowledged faxes back and forth during the negotiations? What made them ok?
The written counter offers functioned as a written acknowledgement of those faxes. Although there are a number of ways to acknowledge faxes in writing, altering and intitialing the fax and faxing it makes it impossible to argue that you haven't acknowledged receipt.
Questions? Comments - leave them below or send an email to marcus@simon.net
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Dear Marcus:
Thank you for taking my call late last evening, but after talking it through with you, I still need some clarification - sorry about that.
Listed below are the events that took place regarding days back and forth. The Home Inspection provides 7 days for the initial contigency (meaning that a copy of the report and an addendum specifying the repairs requested by the Purchaser), then 3 days for the Seller to Counter, then 3 days for the Purchaser to respond, then 2 days for any additional negotiations to go back and forth.
12/26/2006 - Purchasers faxed Home Inspection
12/29/2006 - Sellers faxed response to home inspection (3 days)
1/1/2007 - Purchasers faxed response to home inspection (3 days)
1/3/2007 - Sellers signed on the 2nd, but physically dropped off on the 3rd (2 days)
1/4/2007 - Purchasers faxed response to home inspection (1 day - though I believe we had 2 available)
With all that in mind, it would be my belief that they have two days to respond to our last written offer. They responded verbally over the phone last evening , saying they had a real problem with the findings of the home inspection and their getting ready to VOID the contract. It was really only two more thing that needed initials, neither which are huge issues.
Would the contract become void 2 days from when our request was sent, or from when they sent their request to us. If at this time our client accepted their original request from 1/3/2007, do we have the right to initial their original request back to us (from 1/3, prior to our client's writing in some things and faxing to them? That would have all parties in agreement.
Look forward to hearing back from you.
=========
You are correct. The Contract will become void on the second day following delivery of your last counter offer. So if you delivered your last counter offer on January 4, day one is January 5, 2007 (today) and day two is January 6, 2007 (remember that for the purposes of calculating time periods, day one is the day following Delivery according to Paragraph 2 of the Virginia Jurisdictional addendum.)
Now- this could be more complicated. It occurs to me after reading your e-mail that the method you used to deliver your notice was FAX. You got a phone call, but no written acknowledgement of your FAX. As you know, under Paragraph 1 of the new Virginia Jurisdictional Addendum, Notices are deemed delivered the day they are acknowledged in writing when Fax is the method of delivery. Until they acknowledge receipt of your fax in writing, your notice has not been delivered. Therefore, you can revoke your counter offer and accept their previous counter offer before 9 pm tonight. Just be sure to deliver your acceptance by hand or by courier today before 9 pm. (remember, day 1 to respond to the offer they gave 3rd was yesterday, the 4th. Today the 5th is day 2 until 9 p.m.).
Call me if you need further clarification.
===========
Dear Marcus:
What can we say---THANK YOU!!!! You're such a good sport about being available for us when we're in a crunch and we certainly appreciate it.
I did drive to their home and got a signature for acceptance of a fuly ratified removal of home inspection contingency addendum. All is well. We'll look forward to seeing you at closing.
+++++
Some of you may be wondering, what about all the unacknowledged faxes back and forth during the negotiations? What made them ok?
The written counter offers functioned as a written acknowledgement of those faxes. Although there are a number of ways to acknowledge faxes in writing, altering and intitialing the fax and faxing it makes it impossible to argue that you haven't acknowledged receipt.
Questions? Comments - leave them below or send an email to marcus@simon.net
---------------------------------------------------
Click Here To Receive Updates by E-mail
Disclaimer
posted by Marcus Simon at
9:51 AM
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