Step 16 to Buying A Home: Send Notice of Fulfilment/Amendment/Waivers/Mutual Release

If you got this far, then you’re almost there! I’m excite for you.
If you have gone ahead and perform the conditions in the accepted conditional offer, then your Realtor (if that’s us), will prepare a Notice of Fulfilment signed by you, of course and send it to the sellers through their agent. If you did not perform the condition but you still want to accept it then your Realtor (if that’s us) will send a waiver you signed and send it over to the other party. If there are some additional changes or condition that came up as a result of one of the conditions you put (needs financing extension, needs additional buyer, needs repair, price drop, change in closing date, etc), then those amendments need to be sent ASAP before that condition lapse and has to be sent to the seller’s agent so it can be approved and continue with the purchase and closing. In the unfortunate event that some things are not acceptable to either or both parties, then your agent would have to send a mutual release to let go of the purchase and release both parties from the responsibility of completing the transaction and be free to move on to another home. If you have chosen as to represent you as your Realtor, we try to avoid this part as much as possible but if it’s not avoidable then we ensure that we do this at earliest possible so it does not disrupt your purchase timeline and you don’t lose your deposit. Yes, there are situations that this happens (Thank God! we haven’t been in this situation … knock on wood) and we will do our very best not to get his far. That’s why it’s important that you are straight-forward when you have your discovery meeting with your Realtor (that’s us!) to avoid this scenario. I think it’s timely to share with you reasons that deposit may not be refunded back to you.