Practice Pointer. The seller will want to be careful – especially on speculative deals – that the buyer not be permitted to finalize any government approvals before closing or at least before some of the ▇▇▇▇▇▇▇ money becomes non-refundable. If the buyer terminates after property has been re-zoned or platted, the seller may need to un-wind these entitlements before locating a new buyer or developing the property for an alternative use. This unwinding will cost time and money.
Appears in 2 contracts
Sources: Purchase Agreement, Purchase Agreement