A buyer has made an offer conditional on finance approval within 15 working days. On day 14, their bank indicates approval is likely but requires one additional document. What should the buyer do to protect their position?

This question tests understanding of conditional sale and purchase agreements under New Zealand property law. When a buyer includes a finance condition with a specific timeframe, they create a contractual obligation that must be satisfied within that period. The Real Estate Agents Act 2008 and standard ADLS/REINZ forms don't provide automatic extensions for conditions - these must be negotiated between parties. The scenario presents a common real-world situation where finance approval is imminent but requires additional documentation. The buyer faces a critical decision point: they cannot rely on verbal assurances from the bank, as the condition requires actual approval. Allowing the condition to lapse could result in either losing the property (if the vendor withdraws) or being bound unconditionally (potentially problematic if final approval doesn't eventuate). Proactive communication with the vendor to request an extension demonstrates good faith and protects the buyer's position while maintaining the conditional nature of the agreement.