Mark, a buyer, makes an offer on a residential property in St. Albert. The offer is conditional on a home inspection for seven business days. On the fifth day, Mark informs his real estate associate, Susan, that the inspection revealed a significant defect in the furance, requiring approximately $7,000 in repairs. Mark still wants the property but at a reduced price or with the repair completed. What is Susan's best course of action?

Question: Mark, a buyer, makes an offer on a residential property in St. Albert. The offer is conditional on a home inspection for seven business days. On the fifth day, Mark informs his real estate associate, Susan, that the inspection revealed a significant defect in the furance, requiring approximately $7,000 in repairs. Mark still wants the property but at a reduced price or with the repair completed. What is Susan's best course of action?

Answer options:

• Advise Mark to immediately waive the condition, hoping the seller will agree to the repair later.
• Draft a 'Notice of Fulfillment' of the condition, noting the needed repair. ✅ Prepare an amendment to the Residential Purchase Contract proposing a price reduction or a seller-funded repair, and a corresponding extension to the condition if necessary, for seller's consideration.
• Recommend Mark instruct her to send a 'Notice of Non-Fulfillment' to the seller, terminating the contract.

Correct answer: Prepare an amendment to the Residential Purchase Contract proposing a price reduction or a seller-funded repair, and a corresponding extension to the condition if necessary, for seller's consideration.

Explanation: If a buyer wishes to proceed but with changes due to a condition's outcome, the appropriate action is to negotiate through an amendment to the Residential Purchase Contract, addressing the new terms, and, if needed, extending the condition period to allow for negotiations as per standard contract practice.