Q: Is sale agreement for real estate invalid after no response after more than 90 days?
My dad owns a lot in Ocala FL and was sent an unsolicited offer to buy from a firm. He reluctantly agreed to a ridiculously low offer but haven't heard anything in months. Since it's been so long, we consider it no longer valid even though there's no sell by date, and instead would like to give it to one of our brothers.
Would we be breaking a contract or have they already by lack of response?
A: Send the firm something in writing indicating that the acceptance of the offer is revoked.
A: What you signed needs to be reviewed before any comment can be made on what you might want to do. See an attorney to determine if the offer is outstanding, if there was a meeting of the minds and if there was any consideration - all essential elements to a contract.
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