Post Completion – Seller Receives: If notice to complete is served by the seller and the buyer has not paid the full 10% deposit, what must the buyer do?

• A. Pay the full 10% deposit
• B. Waive the deposit and proceed
• C. Pay nothing and wait for rescission
• D. Pay interest on the deposit

Answer: (A)

When a seller serves a notice to complete, the buyer must have the full amount of the deposit ready to fund completion. The 10% deposit is a key part of the purchase price and acts as security for the seller. If, at the point of notice to complete, only part of the deposit has been paid, the contract cannot proceed to completion until the outstanding deposit is paid in full. Paying the full 10% ensures there are sufficient funds to complete and satisfies the contractual obligation for funding the transaction. The other options don’t meet that obligation: waiving the deposit or paying nothing won’t enable completion, and waiting for rescission is not the required step to proceed.