A buyer makes an offer on a condominium unit, conditional on reviewing and approving the condo documents within 5 business days. On the 4th day, after reviewing the documents, the buyer is satisfied. To make the contract firm, what is the best practice for the buyer's agent?

Question: A buyer makes an offer on a condominium unit, conditional on reviewing and approving the condo documents within 5 business days. On the 4th day, after reviewing the documents, the buyer is satisfied. To make the contract firm, what is the best practice for the buyer's agent?

Answer options: ✅ Submit a written Waiver of Condition form to the seller's agent before the deadline.

• Inform the seller's agent verbally that the buyer is proceeding.
• Wait for the condition to expire, as a lack of communication implies satisfaction.
• Request an extension for the condition, even if satisfied, to avoid perceived rush.

Correct answer: Submit a written Waiver of Condition form to the seller's agent before the deadline.

Explanation: To effectively waive a condition precedent and make a contract firm, a written waiver of condition form (such as AREA's Notice of Fulfillment/Waiver) must be signed by the party benefiting from the condition and delivered to the other party before the condition's expiry.