Posted on: 03rd May, 2010 05:32 pm
If the seller invokes the 72 Hr Clause to the buyer, does the 72 hours include non business days such as Saturday and Sunday when the banks are closed?
Hi Karen!
Welcome to forums!
As far as I know, the 72 hour clause will not include the non-business days i.e. Saturdays and Sundays as the banks remain closed.
Sussane
Welcome to forums!
As far as I know, the 72 hour clause will not include the non-business days i.e. Saturdays and Sundays as the banks remain closed.
Sussane
For most purposes, particularly if the reference is to Federal laws regarding mortgage transactions, Saturday is a business day. The only non-business days are Sundays and Federal Holidays. What this particular 72-hour period is concerning, we have not yet been made aware.
hi,
when does the 72 hour clause take iffect? from the time the notice was sent to the buyer or the time specified in the notice? when should the notice be sent? before the 72 hour clause time start? eg. 72 hour clause starts 2 November 12:30 as stated in the notice and notice sent to the buyer on the 2 November 12:51? which time should the 72 hours start?
when does the 72 hour clause take iffect? from the time the notice was sent to the buyer or the time specified in the notice? when should the notice be sent? before the 72 hour clause time start? eg. 72 hour clause starts 2 November 12:30 as stated in the notice and notice sent to the buyer on the 2 November 12:51? which time should the 72 hours start?
Hi Thuls!
Welcome to forums!
As far as I know, 72 hour clause will take affect once the notice is sent to you.
Sussane
Welcome to forums!
As far as I know, 72 hour clause will take affect once the notice is sent to you.
Sussane
The 72 hours isn't all that literal - it's really 3 days...if you send something on November 2, 2010 (a Tuesday), then the final date would be the close of business on November 5, 2010. You won't find anyone counting down the minutes and the seconds - that'd be far too tedious, not to mention rather absurd.