After agreeing to a Contract of Purchase and Sale for a house in Squamish, the buyer includes a subject condition 'buyer to obtain satisfactory home inspection report by July 10th.' On July 9th, the home inspector finds significant structural issues, making the property undesirable for the buyer at the agreed price. What action should the buyer's real estate licensee advise the buyer to take PRIOR to July 10th?

Question: After agreeing to a Contract of Purchase and Sale for a house in Squamish, the buyer includes a subject condition 'buyer to obtain satisfactory home inspection report by July 10th.' On July 9th, the home inspector finds significant structural issues, making the property undesirable for the buyer at the agreed price. What action should the buyer's real estate licensee advise the buyer to take PRIOR to July 10th?

Answer options:

• Waive the inspection condition and try to renegotiate the price after becoming firm.
• Do nothing, as the contract will automatically collapse if the condition is not met. ✅ Submit a notice of non-satisfaction or non-waiver to the seller, effectively ending the contract.
• Demand that the seller fix all identified structural issues before the completion date.

Correct answer: Submit a notice of non-satisfaction or non-waiver to the seller, effectively ending the contract.

Explanation: When a subject condition (like a satisfactory inspection) is not met and the buyer chooses not to waive it, the buyer must typically provide written notice of non-satisfaction or non-waiver before the deadline. This effectively allows the contract to terminate as per its terms.