When can a conditional offer become unconditional in a real estate transaction?
Correct Answer
C) When each condition is fulfilled or waived by the benefiting party before its deadline
An accepted conditional agreement becomes firm when every condition has been fulfilled, or waived by the party it benefits, before that condition's deadline, normally by written notice. Under standard Ontario wording, a condition that is neither fulfilled nor waived in time makes the agreement null and void; the mere passing of time does not waive it.
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