PROPER NOTICE IS ESSENTIAL TO A SUCCESSFUL REAL ESTATE TRANSACTION
Proper notice is one of the thorny issues in real estate contracts that Buyers and Sellers rarely focus on until a question arises. At that point, everyone rushes to review the contract to see if notice was properly was given. No- tice is critically important in situations where one of the parties is sending notice to terminate a contract, with- draw an offer, or argue that a contract remains in effect because improper notice was given. The main issues par- ties fight about in the notice area include the following:
(1 ) Was notice sent using a permissible means of notice set forth in the contact?
(2) Was notice timely delivered and received? (3) Was the notice given by the right party? (4) Was the notice received by the right party? (5) Was the notice sent to the correct address or facsimile number of the party receiving the notice?
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“NOTICE” GIVING YOUR
This article will discuss the approach to notice set forth in the GAR Contract and answer the questions refer- enced above.
NOTICE UNDER THE GAR CONTRACT The GAR Contract requires all notices to be in writing and signed by the party giving the notice. Therefore, if the buyer is sending a written notice to withdraw an offer, the notice must be signed by the buyer. The signature can be an electronic or facsimile signature of the party giving the notice or be signed with an original, handwritten signature of the buyer. So, for example, an e-mail notice which ends with “Sincerely, Joe Smith” where Joe Smith is the buyer and the signature is typed from the keyboard of a computer would be a valid electronic signature of the buyer. Written notice under the GAR Contract can then
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