Dear Monty: Should I put a time limit on my offer as a buyer?
Monty’s Answer: A time limit is required for a legal purchase agreement. An offer to purchase calls for a time limit to act on the proposal for acceptance. Most other real estate forms contain a time limit to perform. If the receiving party does not act by the time the document expires, then it is no longer in effect.
To answer your question, consider your circumstances and needs to determine your negotiating stance. When you have the information you need, you can answer the question on your own. You may come up with more options or combinations of the information on your own. Here is a list:…
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