A buyer submits an offer with a home inspection condition that must be satisfied by 5:00 PM on Friday. At 3:00 PM Friday, the buyer's agent emails the seller's agent stating the inspection condition is waived. What is the legal status of this waiver?
Correct Answer
A) Valid as the waiver was communicated before the deadline
Condition waivers are typically valid when communicated before the specified deadline, regardless of whether the full condition period has elapsed. The buyer has the right to waive their protective conditions at any time before the deadline expires.
Why This Is the Correct Answer
Option A is correct because under Canadian real estate law, buyers have the right to waive protective conditions at any time before the specified deadline expires. The waiver was communicated at 3:00 PM, two hours before the 5:00 PM Friday deadline, making it valid. The timing of communication before expiry is what matters, not whether the full condition period was utilized. This principle protects buyer flexibility while respecting contractual deadlines established in the agreement.
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A buyer submits an offer with a home inspection condition that must be satisfied by 5:00 PM on Friday. The buyer's agent calls the listing agent at 4:45 PM Friday to verbally waive the condition. What is the legal status of this waiver?
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