Incapable of being
recalled or revoked or unchangeable.
Agreements/contracts for the purchase of
sale typically provide for an irrevocable
date by either the buyer or the seller until
a specific time on a specific date, after
which time, if the offer is not accepted, it
becomes null and void and the deposit is
returned to the buyer in full without
reduction. Irrevocable dates also apply in
the case of counter offers.
It is important to
keep track of all irrevocable dates in a
contract, in generally either the buyer or
the seller are not bound by the contract
after the irrevocable date, although
contracts could become enforceable past the
irrevocable period, if both parties agree
for the time change.
It is strongly
encouraged that you seek competent legal
advice before proceeding with expired
offers.
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