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The Tierra Antiguan
The Tierra Antiguan
Help Line Q & A
Q: What should I do if I receive an offer on a form that is not an AAR Contract?
A: If you receive an offer on a form from an agent or buyer that is not an AAR form always call your manager. In most cases we will counter having them re-write the offer on an AAR form. Other documents many times do not have protections that we need for our clients. These outside forms may not be accepted by our E & O insurance. Again, always check with your manager.
Q: The buyer’s offer to purchase the home stated in Section 8o of the contract that the offer had to be accepted by 5pm on Friday. At 4:30pm on Friday, the listing broker called and left a voicemail for the buyer’s broker stating that the seller was accepting the buyer’s offer. The acceptance of the buyer’s offer was not faxed, however, until 5:15pm on Friday. Is there a valid contract? If not, can the buyer nevertheless waive the late acceptance and open escrow with an accepted contract?
A: If the written acceptance was not delivered to the buyer’s broker by 5:00pm on Friday, the buyer’s offer was not timely accepted. Although the buyer is no longer required to perform under the contract, the buyer can elect either expressly or impliedly to waive the late acceptance and perform under the contract. In other words, there will be a contract if the buyer expressly notifies the seller in writing that the buyer will waive timely acceptance; there will also be a contract if the buyer impliedly waives the late acceptance by opening escrow, by conducting inspections and by otherwise performing under the contract.
Q: The buyer presented an offer to a seller. Seller signed the offer, failed to mark “counter offer is attached,” but subsequently sent the signed offer together with a counter offer to the buyer.

The next day, before buyer sent the signed, accepted counter offer, seller sent a written withdrawal stating he “withdrew the counter offer.” Is there a contract if the seller withdrew the counter offer prior to it being accepted?

A: No. The seller’s counter offer had the same legal effect as rejecting the buyer’s offer.  Therefore, because the buyer had not yet accepted and delivered the signed counter offer, once the seller withdrew the counter offer the negotiations ended.
Q: The real estate agent is representing his nephew as the buyer and a family friend as the seller in a residential resale transaction.  Both parties signed a consent to limited representation. Are there any other disclosures required
A: The Arizona Administrative Code provides that before a contract is entered into, a licensee must disclose that either the buyer or seller is an “immediate family” member of the licensee. See A.A.C. R4-28-1101 (E).  Here, the nephew is likely not an immediate family member as contemplated by the Code.  However, there is no prohibition against making the disclosure and, in fact, it would be advisable under the circumstances.
Tierra Antigua Realty
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Sierra Vista
Green Valley/Sahuarita
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