I can only speak of how it is here and yes, as many have mentioned, a non waiver being sent in (only needs to be signed by the potential buyer) or a lapse of time on the condition date will kill the deal. The brokerage then re issues a cheque back to the buyer.
It is obviously different where you are and doesn't sound like the best model ... what if property B hits the market today but you can't write an offer because you tied up your liquid cash in property A and have to battle to get it back.
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