Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Ontario Real Estate Exam with our comprehensive Humber Course 2 Exam Practice quiz. Engage with multiple choice questions and detailed explanations, designed to help you excel.

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If a landlord has a notice of defective wiring but does nothing, what must be disclosed?

Nothing is needed as the issue is not material
No disclosure is necessary if buyers can see the defect
Disclosure is only for clients, not customers
The defect must be disclosed to any prospective buyer
Seller could argue issue isn't serious
Notice only applies to city inspectors

The correct answer is: The defect must be disclosed to any prospective buyer

If a landlord has received a notice of defective wiring but takes no action to rectify the issue, they are still obligated to disclose this defect to any prospective buyer. This is an essential requirement to ensure full transparency and provide potential buyers with all relevant information before making a purchase decision. Failure to disclose such material defects could result in legal consequences for the landlord. Options A, B, C, E, and F are incorrect: A. It is not correct to withhold information about a material defect, even if the landlord perceives it as not crucial. B. Visible defects do not eliminate the need for disclosure of known issues. C. Disclosure requirements extend to both clients and customers. E. The severity of the issue does not negate the obligation to disclose. F. The obligation to disclose is not limited to city inspectors but extends to any prospective buyer.