A buyer submits an offer conditional on obtaining satisfactory financing by a specific date. The buyer's salesperson receives an email from the buyer stating they have secured a mortgage. What is the next most appropriate step for the salesperson?

Question: A buyer submits an offer conditional on obtaining satisfactory financing by a specific date. The buyer's salesperson receives an email from the buyer stating they have secured a mortgage. What is the next most appropriate step for the salesperson?

Answer options: ✅ Advise the buyer to sign a waiver of the financing condition and submit it to the seller.

• Inform the seller's salesperson verbally that the condition has been met.
• Assume the condition is satisfied and proceed with closing preparations.
• Wait for the financing institution to provide written confirmation to the seller's lawyer.

Correct answer: Advise the buyer to sign a waiver of the financing condition and submit it to the seller.

Explanation: To legally remove a condition from an agreement of purchase and sale, the buyer must formally waive it in writing. This protects both parties by creating a clear record that the condition has been fulfilled or waived, in accordance with contract law principles.