Virginia Beach, VA asked in Real Estate Law for Virginia

Q: When is the timely response requirement met when submitting the Property Inspection Contingency Removal Amendment PICRA

PICRA was sent by buyer's with 2 minutes remaining prior to expiration of contingency period. Sellers agent shows receipt of PICRA 24 hours later. Which value counts a the response time?

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1 Lawyer Answer
Richard Sternberg
Richard Sternberg
Answered
  • Potomac, MD
  • Licensed in Virginia

A: Great question! The contract controls. If it is silent, it may depend on the method of delivery and whether that method of delivery is contemplated by the contract. As an interesting twist of an anachronism in the Law, under the Mailbox Rule, absent a contractual understanding to the contrary, an acceptance is presumed delivered as of the time it is posted to the mailbox. I've seen some judges recognizing that the ancient Mailbox Rule no longer makes sense in an electronic 24/7 world, but I don't believe -- without doing any research -- that the Supreme Court or the Legislature have addressed the issue.

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