Sellers sign back offer, buyers accepts within irrevocable period signing the confirmation of acceptance.
Now the sellers are refusing to sign the Acknowledgment as they have decided that they want a different closing date?
I think once confirmation of acceptance is signed it is a binding contract but others think the Acknowledgment needs to be signed for that.
The Counter Offer from the Sellers is binding once accepted by the Buyers. The Acknowledgement section while it’s nice to have is not a requirement for the contract.
In fact, neither is the Confirmation of Acceptance, although I note that in this case it was signed.
Actual acceptance is coincident with the time of communication to the Sellers. So, once they knew the Buyers had signed there was a binding contract.
Brian Madigan LL.B., Broker
Great read. Thanks
Please enroll me in your emails
I really don’t send out emails or have a mailing list.
Sometimes, I might publish 6 articles per day. That’s a lot of emails. So I justr leave it to anyone who follows me to check in at their own convenience.
I should point out that I really don’t send out any emails. You can follow me on Facebook, or just come back here to see what’s new.