Most people who have bought a property may have noticed a clause on conditions precedent in the contract of sale. As a rule, these conditions relate to deposits that must be paid, financing that must be obtained and/or any other real estate that must be sold before the sale can be confirmed. The interpretation seems quite simple – if you meet the requirements, then the contract is valid; They would not respect it, so the contract will not be valid. But is it that simple? And what are the consequences of non-compliance? These conditions are often contained in a contract for the sale of real estate in order to protect both parties, as the transfer times of a property can be quite complex. For example, the buyer`s ability to buy the home on the market may depend on whether they receive the proceeds from the sale of their current home. .
