Legal Question in Real Estate Law in California

Time Limitation on Counter Offer

I gave an offer for a small 3000 sqft vacant commercial land on 9-20-2007 . Seller responded with a counter offer on 12-14-2007 with no time limit saying when this counter offer expires. Legally how much time do I have to accept or reject his counter offer. Can I legally wait as long as it takes to do my reasearch before I accept his counter and then open the escrow after all my research id done ? The offer is on standard CALIFORNIA Association of Realators '' Vacant Land Purchase Agreement'' . Thank you.


Asked on 12/14/07, 5:53 pm

1 Answer from Attorneys
Allen Farshi Law Offices of Allen Farshi

Re: Time Limitation on Counter Offer

unless the counter offer comes with an expiration date, the counter offer expires in a reasonable time thereafter.

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Answered on 12/14/07, 11:28 pm


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