An example of a condition precedent in a real property purchase contract is:

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A condition precedent in a real property purchase contract is an event or action that must occur before the contract becomes binding or before a party is obligated to perform a duty under the contract. A buyer's financing clause is an example of a condition precedent because the buyer's obligation to complete the purchase is contingent upon obtaining financing from a lender. If the buyer cannot secure financing, they are typically not obligated to proceed with the purchase.

An Example of a Condition Precedent in a Real Property