Question:
There was an Old Agreement of Purchase and Sale. It came to an end and in one hour an Amendment arrived. Has it extended the Agreement?
Can the Seller can accept Offers from other Buyers?
Answer:
The New Amendment does not extend the Old Agreement
That Old APS is gone. It’s dead. It became “null and void” as provided.
The Seller is free to accept other Offers notwithstanding the “grandstanding” of the Buyer’s agent.
But, have a second look at the Amendment: it’s a new Offer, brand new. The “deal” going forward is comprised of the Amendment PLUS the old, expired paperwork relating to the original deal.
This Offer is now in completion with the other Buyers.
Brian Madigan LL.B., Broker