What is the effect of a 'subject to finance' condition in a WA Offer and Acceptance?
Correct Answer
A) The buyer may terminate by notice if finance is not approved by the specified date
A 'subject to finance' condition gives the buyer the right to terminate the contract if they cannot obtain finance approval by the specified date. The buyer must take reasonable steps to obtain finance and must notify the seller if the condition is not satisfied. The contract does not become void automatically.
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