At 4:58 p.m. on the last day of the Due Diligence Period, an agent representing a buyer under contract using the Offer to Purchase and Contract (form 2-T) sent the following email to the agent in our firm...

Effect of non-delivery of termination form before end of Due Diligence Period

QUESTION: At 4:58 p.m. on the last day of the Due Diligence Period, an agent representing a buyer under contract using the Offer to Purchase and Contract (form 2-T) sent the following email to the agent in our firm handling the listing: “My clients do not wish to move forward in the purchase of the property. I am sending over the termination of contract now.” However, there was no termination form attached to the buyer agent’s email or sent by separate email. It is now 5:30 p.m. and we still have not received a termination form.

Are we still under contract at this point? If the answer is yes, will the contract be over if the buyer agent sends a termination form later?
 

DISCOVER THE ANSWER


 



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