A brokerage represents a seller of a commercial industrial property. The seller receives an offer that includes a condition allowing the buyer to obtain a satisfactory building inspection report. Which party is primarily responsible for ensuring this condition is fulfilled and waived or satisfied by the due date?

Question: A brokerage represents a seller of a commercial industrial property. The seller receives an offer that includes a condition allowing the buyer to obtain a satisfactory building inspection report. Which party is primarily responsible for ensuring this condition is fulfilled and waived or satisfied by the due date?

Answer options:

• The listing brokerage, as they represent the seller.
• The seller, as they are providing the property for inspection. ✅ The buyer and their representative, as it is a condition for their benefit.
• The financial institution providing the buyer's mortgage loan.

Correct answer: The buyer and their representative, as it is a condition for their benefit.

Explanation: Conditions in an Agreement of Purchase and Sale, such as a building inspection, are placed for the benefit of a specific party, usually the buyer. Therefore, it is the buyer and their representative who are primarily responsible for actively taking steps to fulfill, waive, or satisfy this condition by the stipulated date.