How do you calculate a home inspection contingency window?

The GCAAR Regional Sales Contract provides basic definitions to clarify

We receive many phone calls from real estate agents asking us, "I have this contract that was ratified on "x" date, it has a home inspection contingency, but we didn’t get notification until "y" date, so have the parties met their obligations under the contract?"

Let’s start with the actual contract itself. Paragraph 26 of the GCAAR Form #1301 – Regional Sales Contract provides us with some basic definitions:

  1. Day or Days are considered to be calendar days unless otherwise directed in the Contract.

  2. Date of Ratification is the date upon which both Purchaser and Seller accepted in writing all terms of the Contract.

  3. Computing Time Period commences on the first day after delivery of the document; with the contingency period expiring no later than 9:00 pm Eastern Standard Time on the date specified in the Contract.

What exactly does this mean? Let’s consider the following scenario:

Jane Doe (Purchaser, hereinafter “Jane”) enters into a contract to purchase property on 123 A Street, NW, Washington, DC from John Smith (Seller, hereinafter “John”). Jane signs and delivers the contract on Nov. 1, 2012 to John and he reviews the contract, accepts the offer and signs and delivers the fully executed contract on Nov. 3, 2012.  

Therefore, Nov. 3, 2012 becomes the Date of Ratification.

The contract states that Jane had until 9:00 p.m. on the 10th day after the Date of Ratification to conduct a home inspection. Since we count calendar days from the Date of Ratification, the starting of the clock for Jane begins on November 4, 2012 and ends at 9:00 p.m. on November 13, 2012, at which point Jane must advise John of the items she would like to have repaired along with the inspection report, or a notice declaring that the contract is void.

Let’s assume that Jane provided the inspection report and list of items to be repaired to John on Nov. 10, 2012 by 9:00 p.m. (3 days earlier than she needed to). That stops the clock on her requirements, and starts John’s next deadline.

John then has 3 days after delivery to accept the terms Jane provided or provide a counter-offer to the items to be repaired. John’s clock would therefore start on Nov. 11, 2012 and end by 9:00 p.m. on Nov. 13, 2012.  

Let’s assume that John made a counter-offer to Jane and delivered it to her by 9:00 p.m. on Nov. 13, 2012.  Jane then has 3 days from the date of delivery to decide whether she would accept his offer or propose her own counter-offer.  

The negotiations would then continue this way until the parties reached a final agreement.

Leave a comment

You are commenting as guest.
dollars.

-panel-box">
Wh-medium-1-2 "tm-icoe-smaluuk"tm-icoass="uba
Closing e width=350 1,"twitt valudcstsny grid" 9b ankn more
nter:lead>lus=nter:1,"twittlus=iv>Closing e width=s clearfix">dcgn=lecederal grid" 9b ankn more nter:lead>lus=nter:s clearlus=iv>Closing e width=350 ng-kss=nfix">cederalname=redign=le-est-ype=ow-cederal grid" 9b ankn more nter:lead>lus=nter:ng-kss=nlus=iv> -panel-box">
oectiyluuk"tm-icoass="uba

Leave a commemain/a> abnelcomin/a> GO! accesskey=iog/conting_id val id=ctaskeme=urle.com/a< data- data- cieldsetrg c3d86442cf" data- data-earn more -panel-box">
=ukst chus clo> Wh="uk-pane.weight3 a{fiv> - Ope>AffilieH9d Bpuk-nam Asi> - Opesing-co/div> Ane casing-co/div> Bte osdasing-co/div> Tags: Chevy Cers -sellco/div> t!-sellco/div>
  • lco/div> lco/div> lco/div> lco/div> Flo-maa
  • lco/div> FJohfaullie
  • lco/div> G datn Ope
  • lco/div> Hfond sts
  • lco/div> -subn Log>
  • lco/div> lco/div> Miami Bhis -sellco/div> Miami-Dade-sellco/div> Mle-gubnryg/lfal"-sellco/div> Ml/dgane-sellco/div> News-sellco/div> Nl/dhatn Vk> Potomac-sellco/div> T-t=fal">Prondu Geoad>Tg/lfal"-sellco/div> Qgest A-sellco/div> RESPA-sellco/div> | Silvit Sprong-sellco/div> <==/Tax C/> <==-sellco/div> Technon' y-sellco/div>

    ny-sellco/div>

  • sfer orow> sfer sheR> Tags: perty on 1 DCi>>Titfullscrfearn more -panel-box">
    div >-grid-ma1l-bodiv >-grid-ass=uk-grid>
    -grid-ass="uk-srid>
    -grid-lead>k-srid>
    -grid-xlead>k-srid>
    ddle uuuk-switcher u target:'> div > .om uk-grid" data-uk-grid-match=",row>:: '#ovarget:'> div > .> altlnspyul cls:''> animdata--f>Let'> inuk-push",rgrid" data-uk-grid-match=",rdeente300-uk-tlscrfearn more -panel-box">
    oectiyluukinuk-pushkmedium-1-2"/a> diuu/div>
  • m dauk-/a>Whin-top> dollars.

    gn=leea>
  • dollars.

    ="Reqow> gn=leea>
  • -panel-box">
    oectiyluukinuk-pushkmedium-1-2"/a> diuu/div>
  • m dauk-Quick Quote tle>Whin-top> dollars.

  • lc hClosinquote m-1-2"/a> dollars.

    ="Carticle-tblog/tag/li>
  • lc data- data- data- data- data-earrfearn more -panel-box">
    oectiyluukinuk-pushkmedium-1-2"/a> diuu/div>
  • m dauk-Net Pwo ncosttle>Whin-top> dollars.

    lc hClosin wo ncostm-1-2"/a> dollars.

    ="Totef=Cert/12. AR F
  • lc data- data- data- data- data- data- data-earn more -panel-box">
    Whiv> are cpeta-tnsearchdesg Docan stsatert" h4-ntins-ofLnto a co-/liveys#css=uk--9224>#
  • lc
  • ksts est offions"l> are cpeta-tnsearchdesg Docwus,-is-firpta#css=uk--9223>#
  • lc
  • <=>
  • noter-ducescle-ifica procepoint Janto a co.a> are cpeta-tnsearchdesg Docwus,-is-firpta#css=uk--9222>#
  • lc
  • <=>
  • noter-ducescle-ifica procepoint Janto a co.a> are cpeta-tnsearchdesg Docan stsatert" h4-ntins-ofLnto a co-/liveys#css=uk--9217>#
  • lc
  • sts alest off=ur nace:bor. Hia pro a con/p> s upm)=ursotifwntract ad siwanfer ... reached a "1" /> are cpeta-tnsearchdesg Docwus,-is-firpta#css=uk--9216>#
  • lc
  • <=>artm-ult" as a$6,000orm-a ivstm-boint J... reached a "1" /> are cpeta-tnsearchdesg Doc#
  • lc
  • k,own co nt> kttle4What are c> are cpeta-tnsearchdesg Doc#
  • lc

  • fault" ,class=ukog/cd clapyer tcle-bank?own co Thankss=u that Mv>k reached a "1" /> are cpeta-tnsearchdesg Docan stsatert" h4-ntins-ofLnto a co-/liveys#css=uk--9206>#
  • lc
  • isof=Cotaintle4What are c> are cpeta-tnsearchdesg Docan stsatert" h4-ntins-ofLnto a co-/liveys#css=uk--9205>#
  • lc
  • ksts Ibdze'was ation umleeo.aMyer hi. (3soffe themcumenait reached a "1" /> are cpeta-tnsearchdesg Docan stsatert" h4-ntins-ofLnto a co-/liveys#css=uk--9203>#
  • lc
  • -panel-box">
    Wh

    s ati237 row> s est nol> ached a "data->
    ain-b- hs. div > .om uk-grid" data-uk-grid-match="ovarget:'> div > .>all" data-ukuuk-grid-ma1gil" data-ukuukatch=>ed6>Our g DoThe nag ofghe col onc3d8y afteonly,>noteiform3 daysbnter-lard ationas,>noth tsubsgn=uts merom Standaccprofeav-lied a atQuick Quote
  • lest c hClosincle2. rscCle2. r Guide-sel. W/p>caccav-li daysbs=uk-uruld a cla" asnwithlosrag a" a12.  classorm-a ivstm-boins=uk8y erns"lfteour g Do.ttle6ached a "data- iv>faa-uknavfoor /wfearn moreep>©zSt nmap-sel | c hClosinprovac">Provac" Pflioy-seltleached a >ain-b-lex a" a"tle Insuisttons"-u"-336tm-1-2"srsttons"-nters isttons"-ntersvnu claisttons"-ntersv>ass="/div>aInsuisttons"-1,"twitt-ntertm-1-2"srsttons"-tnseapulse" grid" 9_b anknClosihidden na,"twitt valudcstsny>trong> v clas/a> nterta> nter-1,"twitt"a- ipderl
  • lc /div> aInsuisttons"-109.js/a><-ntertm-1-2"srsttons"-tnseapulse" grid" 9_b anknClosihidden n/a><.109.jsfix">u/0/112936361250506475949>trong> v clas/a> nterta> nter-109.js>/a><"a- ipderl
  • lc /div> aInsuisttons"-=//twittntertm-1-2"srsttons"-tnseapulse" grid" 9_b anknClosihidden ns clearfix">dcstsny>trong> v clas/a> nterta> nter-ta-confia- ipderl
  • lc /div> aInsuisttons"-height=tntertm-1-2"srsttons"-tnseapulse" grid" 9_b anknClosihidden n350 height=197 sua>trong> v clas/a> nterta> nter-height=ia- ipderl
  • lc /div> aInsuisttons"-tnsess=ntntertm-1-2"srsttons"-tnseapulse" grid" 9_b anknClosihidden n350 tnsess=nfix">cederalname=redign=le-est-ype=ow-cederal>trong> v clas/a> nterta> nter-tnsess=nia- ipderl
  • lc /div> aInsuisttons"-g otactuhref=#om-1-2"srsttons"-tnseapulse" grid" 9_b anknClosihidden n350 g otactuhfix">dcgn=lecederale=imang> v clas/a> nterta> nter-g otactuhia- ipderl
  • lc /div>>Title Insursttons"-slidom/share m-1-2"srsttons"-nters isttons"-ntersvbg isttons"-ntersvbg

    aIm-1-2"rsttons"-tnsea-buttscript> v clas/isttons"-nter isttons"-nter--clok-diitemta+nt-itemta- ipder
  • lc /div>>Tit - data->
    e> div >-grid--srid>
    -grid-ass=uk-grid>
    -grid-ass="uk-siuu/ddiv >-grid-lead>k-siuu/ddiv >-grid-xlead>k-siuu/d-switdth- target:'> div uk-guconf: 'z altlnspyul cls:''> animdata--f>Let'> inuk-push",rgrid" data-uk-grid-match=",rdeente300-uk-tlscrfearn more -panel-boinuk-pushkmel" data-ukuuk .>uk-panel uk-vi the '> ">
      ="/dic hClosinabbl/a>="/dic hClosinquote>Quote
    • c /div>>Titlhed a "data- lscrfearrfearn more -panel-boinuk-pushkmel" data-ukuuk .>uk-panel u-vi the>="/dic hClosinprnam>Prnam-v-line">="/dic hClosinbr timonns"s>Tr timonns"s-v-line">="/dic hClosing Do>B Do
    • c /div>>Titlhed a "data- lscrfearrfearn more -panel-boinuk-pushkmel" data-ukuuk .>uk-panel u-vi the>="/dic hClosinc-foa
    • DFTE: Miami
    • c /div>>Titlhed a "data- lscrf lscrf lscrf lscrf lscrfearn more >
      c=/mho altlnhClosi#>
    • lc lscrf foor /wf lscrfearnv un-menu>
    il" data-ukuukatch=>ec3d8emain/a> /a> /a>Commequote>Quote
  • c /dimercial>Commedbackc /dimerdata-ukuukat Comm#"Carticleosti>imercial>Commiv clasngCom, 'grid" Witle.', '-contai=no,loay aft=no,blogus=no,menutai=no, altln"tm-=yes,rnaizaush=yes,'); returat-widt;"paret!™fearrFothWeb / Andrrinc lscrf i>c /dimercial>Comme width=media.ame=redirect valuirectane ca/QuickQuote/Dponentsaspx-=nclick=mettle..low (atio.>Com, 'grid" Witle.', '-contai=no,loay aft=no,blogus=no,menutai=no, altln"tm-=yes,rnaizaush=yes,'); returat-widt;"pQuick Quote
  • c /dimercial>Comme width=media.ame=redirect valuirectane ca/builaiv>c /dimercial>Comme width=media.ame=redirect valuirectane ca/r timate/Dponentsaspx-=nclick=mettle..low (atio.>Com, 'grid" Witle.', '-contai=no,loay aft=no,blogus=no,menutai=no, altln"tm-=yes,rnaizaush=yes,'); returat-widt;"pNet Pwo ncosfearrFothngton,s-slscrf i>c /dimercial>Comme width=itusts. href197 suad hringCom, 'grid" Witle.', '-contai=no,loay aft=no,blogus=no,menutai=no, altln"tm-=yes,rnaizaush=yes,'); returat-widt;"paret!™i theiOSfearrGoaysbApp Stclosilscrf i>c /dim>Titlh/dimerdata-uk/a> -p cladaukc hClosinc-f2. rscBuyrs +hngton,s-sa>uk-panel u-vi