All Topics / Legal & Accounting / sunset clause

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  • Profile photo of Matt JonesMatt Jones
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    @mattjones
    Join Date: 2005
    Post Count: 170
    June 28, 2006 - 9:23 am

    Hi all

    I really need a bit of help asap. I put in an offer yesterday on a property with a sunset clause for 5pm this Friday. The vendor showed interest so i signed a contract today and the agent is submitting to them tomorrow but i forgot to put the sunset clause in the contract. Does this mean the vendor could now hold out till Saturday after the OFI’s before agreeing to my offer? Or does the the letter of offer still stand – i am assuming the contract superseeds it.

    I ask this because if the buyers have no interest at the OFI i may not be able to retract my offer in the hope of reducing the bid.

    Cheers,
    Matt

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