The answer

Do not assume the answer. Deposit consequences depend on the signed contract, condition wording, notice, deadlines, conduct, and the specific facts. Confirm delivery and receipt, preserve written records, follow the required process, and obtain legal advice immediately when financing, inspection, documents, notice, deadline, or contract status is disputed.

Calgary-specific context

The practical risk rises when deadlines are missed, communication is informal, a condition was waived or poorly documented, the buyer changes direction without evidence, or the parties disagree about whether the agreement ended properly.

What to do next

Put the contract, schedules, deposit receipt, condition evidence, notices, messages, and timeline in one file and escalate before taking another contractual step.

Related guides

buyer guideCalgary Buyer Deposit and Condition-Failure GuideGeneral education on deposit delivery, receipt, condition and notice deadlines, failed financing or inspection, contract status, written communication, legal advice, and why buyers should not assume whether a deposit is automatically returned or forfeited.buyer guideDeposit vs Down Payment CalgaryThe practical difference between deposit money, down payment funds, and closing cash.Interactive toolCalgary Buyer Condition-Removal Decision BoardTurn an accepted Calgary offer into a proceed, extend, renegotiate, or pause decision using financing and property approval, appraisal, insurance, inspection, estimates, title/RPR/permits, condo or tenancy documents, amendments, cash exposure, deadlines, and walk-away rules.

Verify before relying

Official sources for this topic

These sources explain the rules and records relevant to this topic. Check the current requirements for your property.

RECA consumer informationAlberta real estate consumer guidance.CMHCOfficial mortgage loan insurance, minimum down-payment, premium, and eligibility education.Bank of Canada ratesInterest-rate context for affordability discussions.FCAC mortgage pre-approvalOfficial federal guidance on mortgage pre-approval, documents, rate holds, costs, and why pre-approval is not final approval.OSFI mortgage qualifying rateOfficial current minimum qualifying-rate policy for uninsured mortgages at federally regulated lenders.Alberta King's PrinterOfficial Alberta legislation source for source-linked legal topics.

Check the current information at the linked source. Ask the appropriate professional how it applies to your property.

Important

Real estate rules, market conditions, property records, taxes, financing terms, bylaws, and physical conditions can change. Verify time-sensitive and property-specific facts with current official sources and the appropriate qualified professional before acting.

RELATED GUIDES / Buying & financing

Check your financing for the specific property.

A pre-approval is not final financing. Confirm the property, appraisal, insurer, cash to close and lender conditions before deciding whether to remove a financing condition. A planning score cannot authorize a purchase.

Official verification: FCAC: getting pre-approved for a mortgage ↗

Affiliated network resources provide context. Confirm rules, approvals and property records with the responsible authority.