Churgin v. Hobbie

Under an agreement for the sale of a commercial property, the buyer conditioned his performance on his obtaining a first mortgage loan of $300,000 “on or before 45 days of closing.” To have the benefit of the financing condition, the buyer, if he found himself unable to obtain a com*303mitment for a loan in the designated amount, was obliged to notify the seller of that inability by that same cutoff date. The finance deadline, November 24, 1991, passed without notice from the buyer. On the particular facts of the case, we conclude that a later extension of the closing date did not extend the…