What may happen if a condition of the offer is not fulfilled?

When a condition of an offer is not fulfilled, it generally requires cancelation or amendment of the agreement. This means the parties involved must discuss the situation and possibly revisit the terms of the agreement. Conditions are stipulations that must be met for the contract to be enforceable. If these conditions are not satisfied within the stipulated timeframe, the contract may become void, or the parties might negotiate changes to the agreement that reflect the new circumstances.

In real estate transactions, failing to meet a condition could be due to various reasons, such as a buyer not securing financing or a property not passing an inspection. In such cases, rather than assume acceptance of the offer or extending the agreement indefinitely, which could lead to further complications, it is standard practice to either amend the existing terms or cancel the offer altogether. This approach ensures all parties are clear about the status of the agreement and reinforces the importance of conditions in maintaining the integrity of the real estate transaction.