Sometimes, a condition is not able to be met by the set out date in the offer agreement. When this happens, the buyer can request an extension on this condition at the discretion of the seller. The seller is allowed to reject this request if they choose, with the knowledge that this will make the offer void. Any extension must be put in writing by amending the existing contract which then needs to be signed by all parties. Contract amendments can be made by contacting help@bodecanada.com

The seller may ask that other conditions be removed if another condition is being extended. For example, the seller may grant the extension for financing but ask the buyer to remove the home inspection condition in exchange so that they are guaranteed to not have the agreed upon price renegotiated due to an inspection.

If a condition deadline is missed without being waived, the contract becomes null and void. This makes it extremely important for both sides to know the condition deadlines.

Did this answer your question?