Humber/Ontario Real Estate Course 2 Exam Practice

How can conditions included in an agreement of purchase and sale benefit a buyer?

1. They can be tailored to meet the buyer's needs.

2. They decrease the buyer's vulnerabilities.

3. They usually don't complicate the process.

4. They are often not necessary for residential properties.

5. They expedite the agreement process.

6. They increase the buyer's flexibility.

The correct answer is: They can be tailored to meet the buyer's needs.

Conditions included in an agreement of purchase and sale can benefit a buyer because they can be tailored to meet the buyer's needs. By including specific conditions that are important to the buyer, such as a condition for financing approval or a home inspection, the buyer can protect their interests and ensure that the transaction proceeds smoothly. This customization allows the buyer to address any concerns or requirements they may have before committing to the purchase, making the agreement more favorable and secure for them. Option B is incorrect because conditions included in an agreement of purchase and sale actually increase the buyer's vulnerabilities, as they provide opportunities for the buyer to walk away from the deal if the conditions are not met. Option C is incorrect because conditions can complicate the process by adding additional steps or requirements that must be fulfilled for the sale to proceed. Option D is incorrect because conditions are often necessary for both residential and commercial properties to protect the interests of the buyer. Option E is incorrect because conditions, by their nature of adding requirements to be fulfilled, can potentially slow down the agreement process rather than expedite it. Option F is incorrect because conditions, while offering some flexibility to the buyer, also impose certain restrictions or requirements that must be satisfied for the sale to be finalized.