KVV Inc AttorneysPublished on: 04/03/2025
buyer's failure to secure bond approval by the deadline, even with a seemingly agreed-upon extension (that wasn't in writing as required), invalidated the sale. Despite later attempts to waive the bond clause, the sale was already void. The buyer got their deposit back, while the seller faced losses. Sellers: ensure written extensions. Buyers: diligently pursue financing to avoid losing your deposit.
KVV Property LawConveyancing Property sale deadlineMissed deadlineBond clauseSuspensive conditionSale agreementContract lawRepudiation of contractLegal disputeReal estate law