Humber/Ontario Real Estate Course 2 Exam Practice 2025 – All-In-One Study Guide to Ace Your Real Estate Exam!

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What should a buyer understand when including a condition related to obtaining financing in their offer?

The condition benefits the seller.

The condition must be fulfilled promptly to avoid issues.

When a buyer includes a condition related to obtaining financing in their offer, it is crucial that they understand that this condition must be fulfilled promptly to avoid issues. This means that the buyer needs to take proactive steps to secure their financing within the agreed-upon timeline in the offer. Failing to meet this condition can lead to potential complications such as the seller having the right to terminate the agreement without having to resort to litigation. Therefore, it is in the buyer's best interest to ensure they meet this condition promptly to proceed smoothly with the real estate transaction.

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Failing to fulfill this condition will terminate the agreement without litigation.

The condition should specify a flexible timeline rather than a strict date and time.

The condition should include multiple signatories.

The condition can be ignored if one party disagrees.

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