Accepting the Signback in Ontario

Question:

Your Buyer – Offer written with an irrevocable of 6pm yesterday. Seller not available on the road, time expires. Signed back today at a price your buyer is wanting to accept. Two showings scheduled for tomorrow. (one is a 3rd time back). 

  1. do you accept current offer.
  2. do you re-write the offer with a short irrevocable (they may not be able to sign as back on the road)

Answer:

There was a Saturday Offer from the Buyer to the Seller. It expired. It’s done.

Then, there was a Sunday Offer from the Seller to the Buyer. It’s still open for acceptance. I assume that you still have time. The Seller reused the Buyer’s paperwork. This is still the Sunday Offer, no matter what, and it’s still open for acceptance.

With two other potential Buyers in the waiting, I would accept the Seller’s Sunday Offer unless there is a problem with it in some way.

Brian Madigan LL.B., Broker

www.OntarioRealEstateSource.com

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