Humber/Ontario Real Estate Course 2 Exam Practice

If minor contamination is found during an environmental inspection, what can the buyer do?

1. Waive the condition even with contamination found

2. Compel the seller to remediate the property

3. Terminate the agreement and receive the deposit back

4. Force renegotiation of sale terms

5. Nullify the agreement automatically

6. Extend the inspection timeframe

The correct answer is: Waive the condition even with contamination found

If minor contamination is found during an environmental inspection, the buyer has the option to waive the condition of the environmental inspection even with contamination found. In real estate transactions, inspection conditions are typically included in the agreement to protect the buyer's interests. By waiving the condition, the buyer is essentially indicating that they accept the property despite the contamination issue being present. The other options are not correct: - Compelling the seller to remediate the property or forcing renegotiation of sale terms might be options in certain situations, but the buyer is not obligated to do so in the case of minor contamination. - Terminating the agreement and receiving the deposit back may not be necessary if the buyer is willing to proceed with the purchase despite the contamination. - Nullifying the agreement automatically is not the standard procedure when minor contamination is found. - Extending the inspection timeframe is not directly related to what the buyer can do regarding the minor contamination.