The buyer and seller executed an Arizona REALTORS® Resale Purchase Contract (Contract) on December 15th, with a 10-day inspection period. The buyer provided a BINSR on December 27th asking for certain repairs. The seller claims the BINSR is ineffective because it is late. The buyer claims the BINSR was timely because Christmas Day and the day after- the observed holiday this year- “don’t count” in the inspection period.
Is the BINSR timely?
Section 8h of the Contract defines days as “calendar days.” The document does not create a “carve out” for Christmas or other holidays. Thus, Christmas Day and Christmas Day Observed are both included in the 10-day inspection period. The BINSR was therefore delivered after the inspection period and not effective.
Note: If close of escrow is scheduled to occur on a holiday and the escrow company is closed, the close of escrow shall occur on the next business day pursuant to section 1d of the Contract.