Can a Buyer Close if Problems are Not Resolved?
A party is free to waive unsatisfied conditions and unresolved problems and close. The real issue is whether it is prudent to do so. If the buyer finds a material problem before closing and has a right under the purchase agreement to not close, normally the buyer should refuse to close unless and until the problem is resolved to the buyer’s satisfaction. The same is true of material conditions in a purchase agreement that are not satisfied before closing. The buyer has the most leverage with the seller to resolve problems and unsatisfied conditions before closing and the seller gets paid. Buyers should normally not close a purchase transaction when a problem is found before closing or a condition to close is not satisfied unless the buyer is willing to take the risk that the problem or condition will not be resolved after closing. If a buyer elects to close despite unresolved problems and unsatisfied conditions, the buyer should try to modify the purchase documents to in a way that wil
