Tuesday Takeaway: The contract states that an association approval is due 5 days prior to closing.
The contract states that an association approval is due 5 days prior to closing.
If this day falls on a Saturday, Sunday or legal holiday is it pushed forward to the next business day, per Standards in Paragraph F, or would it get pushed back to the previous business day, for example if it is a Saturday, then it is pushed backward to the Friday before?
The HOA disclosure states the contract is contingent upon Association Approval no later than 5 days prior to closing. I would interpret “no later than” to mean “not more than 5 days”. Therefore, I would agree with you that if this day falls on Sunday, it automatically extends to the next business day under Standard F, thereby giving the Buyer extra time to get approval (4 days prior to closing). If you go backwards to the Friday before, I think it goes against the “no later than” and any contingency that ends more than 5 days before closing date would contradict the language.