George Clements ~ Greenville, SC Real Estate
Paragraph 24 of the Contract For Sale deals with the expiration of the offer and looks something like this:
24. Expiration of Original Offer: The original offer is deemed revoked if not accepted and a signed
acceptance communicated by delivery to Purchaser or Purchaser’s Agent by _________________ 20___ , at___AM___PM
This is a pretty simple clause and just lets the seller know exactly how much time the purchaser is giving for them to respond to the offer. Normally, anywhere from 4 hours to 2 days are given to respond. It just depends on that paticular offer and situation on how much time is given. The seller can either accept, reject, or counter the offer that the purchser has given in this time period.