# OREA Form 124 Notice of Fulfillment of Conditions vs. Form 123 Waiver



## canabiz (Apr 4, 2009)

Hey guys, is Form 124 Notice of Fulfillment of Conditions the same as Form 123 Waiver for real estate transactions in the province of Ontario?

We are selling our home on our own and the buyer's agent just sent me Form 124 with the buyer's signature indicating the deal is now finalized. We had the inspection done yesterday and I guess everything was on the up and up. The deal was also contingent upon buyer financing and that seems to be good as well, at least that's what I interpreted this form to do?

I am supposed to sign at the bottom and return it to the buyer's agent.

I would have asked my lawyer but obviously the office is closed atm. One of my friends recently sold his place on his own as well and he received a Waiver Form 123 instead. I googled and could not find anything concrete

Thanks.


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## jamesbe (May 8, 2010)

123 is superseded by 124. As the wording indicates, 123 waives the conditions.

So if they had a.condition of inspection for example they could decide not to do it and send you form 123 saying they waive that condition. 

124 then says all the conditions have been fulfilled. Congrats!


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## canabiz (Apr 4, 2009)

Thanks James. Ours was on the market for slightly less than 2 weeks but sometimes it feels like an eternity for me. I like to make quick deals but I have learnt to be patient in this game and the right buyer will come around, eventually.

Another one on our street is now conditionally sold as well, things should pick up as the weather gets warmer and the traditionally busy real estate spring season is upon us. Figuring we got a headstart and get this out of the way


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## Mall Guy (Sep 14, 2011)

jamesbe said:


> So if they had a.condition of inspection for example they could decide not to do it and send you form 123 saying they waive that condition.


Small point, but if the buyer decided not to do it, wouldn't they send a form/letter saying the condition is not waived . . . wait, maybe you mean they decided not to do the inspection, and are waiving the condition, whereas I read it as they decided not to proceed with the purchase. (where is the cancel button?)


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