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Actually agent would take most of the deposit as legally they still get paid. Not much left for the vendors, just enough for compensation.

Thanks Terry. They are one day late and asking for an extension. They should have asked couple days before the deadline.

Thanks Peter, your reply is what I thought. Why would the solicitor think otherwise? Lack of experience?

Question on behalf of a friend. A friend of mine is selling there PPR. Buyer offers $X and signs it to subject to finance. On the day of the clause due to end the buyer pays a deposit of $59,000. Couple days later he is asking for an extension for finance, by now the clause has expired...