Humber/Ontario Real Estate Course 2 Exam Practice

If a property inspection clause is included in the agreement, who usually bears the cost for the inspection?

1. The seller, with costs shared with the buyer

2. The buyer, at their own expense

3. The cost is split equally between buyer and seller

4. The inspection company without any cost to the buyer or seller

5. The real estate brokerage involved

6. The local homeowner's association

The correct answer is: The buyer, at their own expense

In real estate transactions, it is typically the responsibility of the buyer to cover the expenses associated with property inspections. Including a property inspection clause in the agreement signifies that it is the buyer's due diligence to ensure they are making an informed decision when purchasing the property. Therefore, the buyer is usually the one who bears the cost of the inspection. The other options are incorrect as they do not align with the standard practice in real estate transactions.