Posted on August 7, 2010.
Letter of Offer and the purchase and sale? If buyers ad sellers signed the offer letter on March 18, 2008 and sets the S & P thst must be signed within 14 days after the letter of offer which is the date? Is the date March 18 imclude or O you add the 14 days that day? If the P & S has been executed the day after the due date so that it enables sellers to say that it is no longer valid for not selling their house?
Each time a deadline for signing is not met (and has not been extended by both parties in writing) of the house is not legally in the longer contract. Many people just go to this and proceed as if the deadline had been met, the idea being that both parties want to always be the case, then why complain? Others - and I am - take this kind of thing very seriously and for anyone who would at home out of contract for not being very serious about the matter.
In general, you do not include March 18 and time is running 19th day March 1. S & P should have been executed not later than April 1.
As 65% of the water said, most people agree to do so and no, there is no recourse if the terms were not completed within the timeframe specified. April 2, the letter of intent has expired.