Does the binding agreement date start the clock on the Due Diligence period?
Hi JHodges. Yes, the binding agreement date starts the clock on all contract deadlines in Georgia for residential real estate using the GAR forms. The due diligence period doesn’t apply until you have an accepted and binding agreement. Your buyers can look all they want before you get an acceptance from the bank on this short sale. If they find something they prefer, I would simply have them sign a Notice to the Seller and fax it immediately withdrawing the offer – come to think of it, I think there is a GAR form for that – don’t have forms file open right now or I would check for you. Good luck on your short sale.
