Humber/Ontario Real Estate Course 2 Exam Practice

How can a buyer's interest in a swimming pool be best protected in an offer during winter?

1. Include an acknowledgment by the seller that the pool is in good condition.

2. Include a warranty clause with terms and a spring termination date.

3. Make two deposits, one upon acceptance and another after the February closing.

4. Seek verbal assurances from the seller about the pool’s condition.

5. Request an additional deposit be held in escrow until summer.

6. Include a contingency clause for pool inspection in the spring.

The correct answer is: Include a warranty clause with terms and a spring termination date.

In winter, it is challenging to fully assess the condition of a swimming pool due to it being typically covered or not in use. By including a warranty clause with terms and a spring termination date in the offer, the buyer can ensure that the pool's condition is guaranteed, and they have the option to terminate the agreement if the pool does not meet their expectations once it can be properly inspected in the spring. This clause helps protect the buyer's interest in the swimming pool when making an offer during the winter. Options A, C, D, and E do not provide the same level of protection for the buyer's interest in the swimming pool. Option F suggests a pool inspection in the spring, which is a good practice but does not offer the same level of guarantee as a warranty clause with terms and a spring termination date.