What happens if a stipulation is not met by a buyer on a mortgage?

There was a stipulation put on my mortgage relating to the approval of the mortgage by the bank. The stipulation said that another property in downtown Calgary, AB must be sold in order for the mortgage on the home in northwest Calgary to be approved. What happens if the other property was never sold? Is the mortgage invalid and could the property be taken back by the bank? by cphildahl from Lethbridge, . Dec 14th 2010 Reply