FACTS:                    

The buyer and seller executed an Arizona REALTORS® Resale Purchase Contract (Contract) on December 15^th, with a 10-day inspection period.  The buyer provided a BINSR on December 27^th 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.

ISSUE:                      

Is the BINSR timely?

ANSWER:                

No.

DISCUSSION:         

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.