Late Acceptance of Offer is Still a Valid Contract
Question: We made an offer on a home in Fountain Hills. Our offer said that the seller had 24 hours to accept our offer. The seller was out of state, and did not send us her acceptance of our offer until four days later. We still wanted this Fountain Hills home, and so we told our real estate broker to deposit both our earnest money check and the accepted offer with the title company. We ordered the home inspection. The seller apparently now has a higher offer from another buyer. The seller says that her acceptance of our offer is invalid because she did not accept our offer within the 24-hour time for acceptance. Is the seller right?
Answer: No. You had the right to reject the seller’s late acceptance of your offer. You waived that right by your actions, however, because with knowledge of the late acceptance you deposited both the earnest money check and the accepted offer with the title company. You also ordered the home inspection. Both you and the seller were acting as if her acceptance of your offer created a contract. Therefore, a court will enforce this contract.
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