What are the three possible outcomes if a buyer's condition is not satisfied?

The correct answer outlines the three potential outcomes when a buyer's condition is not satisfied during a real estate transaction. When a specified condition is not met, the transaction can proceed in one of three ways: it can be voided, meaning the sale would be canceled entirely; the condition might be waived, which allows the buyer to proceed with the purchase despite not fulfilling the condition; or the agreement could be redefined, indicating that the terms of the sale may be adjusted to accommodate the situation.

The inclusion of "voided" emphasizes the serious consequence where the contract is terminated due to the unmet condition, providing legal closure for both parties. "Waived" reflects the buyer's choice to forgo the condition, demonstrating flexibility or a shift in priority regarding the condition. Lastly, "redefined" suggests that rather than abandoning the transaction outright, parties might negotiate new terms to align with the current circumstances.

This understanding is crucial for real estate professionals, as it portrays the potential paths that a transaction can take when conditions are not fulfilled, reflecting the need for strategic decision-making based on the client's interests and the integrity of the transaction.