Sabo

In this action for specific performance between a buyer and seller of real estate, we hold where the offer to buy is conditioned on the sellers’ acceptance within a specified time the buyer may waive the time limit and treat the seller’s late acceptance as timely. The undisputed facts of this case show the buyer waived the sellers’ late acceptance and that the sellers knew their late acceptance had been waived. Therefore, the trial court erred in granting judgment to the sellers.

Facts and Proceedings Below

The defendants, Mr. and Mrs. Fasano, listed their apartment building for sale in December 1976. The plaintiff, Mr. Sabo, executed an offer on December 23, 1976. The written offer in the form of a “Deposit Receipt” contained a provision common in real estate transactions that the offer would be deemed revoked if not accepted within a certain period (See Cal. Real Property Sales Transactions (Cont.Ed.Bar 1981) §§ 3.7, 3.40, 3.60). This particular offer provided that it “shall be deemed revoked unless accepted in writing within 5 days after the date hereof . . . .”

The broker handling this transaction did not present Sabo’s offer to the Fasanos until the sixth day…