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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link="#0563C1" vlink="#954F72"><div class=WordSection1><p class=MsoNormal><span style='color:#1F497D'>Anyone come across this scenario where the commercial buyer appears to have a pocket termination because buyer didn’t provide the waiver of the feasibility contingency? <o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><div><p class=MsoNormal><span style='color:white'><o:p> </o:p></span></p></div><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b>From:</b> wsbarp-bounces@lists.wsbarppt.com [mailto:wsbarp-bounces@lists.wsbarppt.com] <b>On Behalf Of </b>Paul Neumiller<br><b>Sent:</b> Thursday, May 19, 2016 4:52 PM<br><b>To:</b> wsbarp@lists.wsbarppt.com<br><b>Subject:</b> [WSBARP] Legal Limbo? - Commercial Sale<o:p></o:p></p></div></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Fellow Listmates: Standard Commercial Brokers Association P & S agreement (CBA Form PS 1A) says that the “Agreement shall terminate and Buyer shall receive a refund of the earnest money unless Buyer” waives the feasibility contingency within 10 days. And, the parties agreed that the earnest money shall be paid into escrow “within 48 hours of feasibility release.” Buyer deposited the earnest money with escrow holder. Now, beyond the 10 days, buyer delivers a written “Feasibility Contingency Notice” indicating disapproval and a requesting a return of earnest money. So, is the deal terminated because buyer didn’t waive the feasibility contingency within 10 days or is there a colorable argument that buyer waived the contingency when buyer deposited the earnest money. I can’t find anything on this on CaseMaker. <o:p></o:p></p><p class=MsoNormal> And, yes, I am annoyed with the brokers for letting this slip. It seems to me that the buyer had a pocket termination the whole time if no one forced the buyer to either use or waive the feasibility contingency within the 10 days. Is my client (seller) in legal limbo? <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><a name="Paul_Neumiller"><span style='font-size:12.0pt;font-family:"Times New Roman",serif'><img width=375 height=225 id="_x0000_i1025" src="cid:image001.jpg@01D1B2A5.4AC2E690"></span></a><span style='font-size:12.0pt;font-family:"Times New Roman",serif'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman",serif'><o:p> </o:p></span></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>