Legal Question in Real Estate Law in Indiana
rirht of refusal
We put a bid in on a property with a first right of refusal. The contract says they have 5 working days to respond. They rc'vd contract last Sat (18th) via certified mail. They have avoided our agent (he has called both their cells and left messages). There 5 working days are up and no response. Are they out of the loop or are we at their mercy forever. Thanks
1 Answer from Attorneys
Re: rirht of refusal
Based on the facts discerned from your question -- that you were interested in buying a piece of real estate, that you put a bid on the property, and as part of the bid you wanted to have for yourself a right of first refusal, and you put a five day time limit for response, and you are afraid that even though the five days has expired they can still hook you to the contract you proposed even if you are no longer interested -- you can stop worrying about being at their mercy. Since the time has expired, they will not have the ability to enforce the agreement against you. If they ever do respond you can decide at that time if you want to do business with them. Good luck.
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