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The place "time is of the essence," there have been circumstances the place the entire deposit is forfeited (as liquidated damages ) if the conveyancing is delayed beyond the time limits of the customer's contingencies, even when the acquisition is completed. There may be facet agreements (e.g., holdover tenants, supply contracts, payment holdback for unacceptable repairs), seller's right of first refusal for resale, declaration of trust, or other entity formation or consolidation (incorporation, restricted partnership investors, and so on.).
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