Oregon Broker PSI Practice Exam 2026 - Free Broker Exam Practice Questions and Study Guide

Once all contingencies are waived, the transaction typically moves forward to closing. Contingencies are conditions that must be met for the contract to proceed, such as securing financing, completing inspections, or obtaining a clear title. When a buyer waives these contingencies, it indicates that they are satisfied with the terms of the agreement and are ready to proceed. This signifies a commitment to complete the transaction, leading the parties to close on the sale of the property according to the agreed terms.

The other options do not accurately reflect the usual process after waiving contingencies. A buyer does not sign a new agreement, as the original contract remains in force. Putting the property back on the market is counterproductive at this stage since the buyer has indicated they wish to proceed with the purchase. Lastly, the buyer does not need to reapply for financing as long as they had previously arranged financing within the terms of the contract. Thus, moving forward to closing is the expected next step.