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Old 10-12-2009, 10:29 AM
 
17 posts, read 38,421 times
Reputation: 18

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This question is quite amazing to me, that I should even need to ask it. Some say yes, some say no. None ofthe contracts specify it.

Do weekend and holidays count when it comes to deadlines set in the purchase and earnest money agreements?

I mean how hard is that to answer, really? Half those I ask say no, weekends do not count, others say it does. Rediculous that something so simple, cannot be answered with a simple, yes or no.
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Old 10-12-2009, 10:36 AM
 
Location: Barrington
24,412 posts, read 17,660,321 times
Reputation: 7770
Most contracts specify X business days.
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Old 10-12-2009, 10:40 AM
 
17 posts, read 38,421 times
Reputation: 18
Quote:
Originally Posted by middle-aged mom View Post
Most contracts specify X business days.
My contract just states "days" not anything about business days or otherwise. Here we go again.

What is the meaning of the word "is" as William Jefferson Clinton, would ask...

What is the meaning of the word "days" as I would ask. Good grief!
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Old 10-12-2009, 11:15 AM
 
Location: Cedar Park, Texas
29 posts, read 67,090 times
Reputation: 24
The answer depends on who you talk to and how the contracts are written. Clauses in the TREC contracts we use in the Austin area refer to calendar days, but that is not the case everywhere. Check the wording in your contract and ask a real estate attorney or your local board of Realtors.
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Old 10-12-2009, 11:24 AM
 
Location: Hernando County, FL
8,489 posts, read 12,920,455 times
Reputation: 5397
My contracts all specify.
You may not have read closely enough.
It may be specified in another part of the contract.

Our contracts may state "...5 days for acceptance." but on another page state "Time periods of less than 5 days shall not include weekends or holidays." Hence it is not clear reading the 1st part if weekends are included but is clarified later.
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Old 10-12-2009, 11:37 AM
 
Location: DFW - Coppell / Las Colinas
20,778 posts, read 21,124,957 times
Reputation: 22521
Quote:
Originally Posted by middle-aged mom View Post
Most contracts specify X business days.
Not in TX, days here mean weekend also.
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Old 10-12-2009, 12:43 PM
 
Location: Salem, OR
11,815 posts, read 22,082,219 times
Reputation: 8087
I agree with MikeP that it may be stated in another part of the contract. We have a section called definitions where it spells that we mean business days in Oregon contracts, BUT REO addenda often override that clause and change it to calendar days.

I'd be stunned if there wasn't a definition somewhere in your contract.
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Old 10-12-2009, 12:43 PM
 
Location: Tempe, Arizona
4,511 posts, read 8,587,753 times
Reputation: 2142
I would be surprised if a standard Realtor association purchase contract did not have "days" clearly defined. In AZ, it is calender days, including weekends. What is the source of your contract? If provided by an agent, then check with them or their broker.
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Old 10-12-2009, 01:52 PM
 
Location: South Metro Denver for 26 years
9,078 posts, read 21,565,010 times
Reputation: 4961
In Colorado, there is a box for calendar days including weekends/holidays or not.
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Old 10-12-2009, 01:54 PM
 
Location: Boise, ID
6,376 posts, read 13,615,359 times
Reputation: 6016
In our contracts, some things are "days" which means all days, including weekends, and some things are "business days" which is actually defined by state code, including which holidays are not counted. There is also a section of the contract that clarifies the meaning of "days" and "business days".

My guess would be, if it doesn't say business days, it means all days.
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