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Where "time is of the essence," there have been instances where the whole deposit is forfeited (as liquidated damages ) if the conveyancing is delayed beyond the deadlines of the buyer's contingencies, even if the purchase is completed. There may additionally be side agreements (e.g., holdover tenants, delivery contracts, fee holdback for unacceptable repairs), vendor's proper of first refusal for resale, declaration of trust, or other entity formation or consolidation (incorporation, restricted partnership investors, and so on.).lawrato.com