Humber/Ontario Real Estate Course 2 Exam Practice

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If several property conditions in a buyer's offer are set to different expiration dates, what’s preferable?

  1. Cluster all conditions under one with a single expiry date

  2. Separate conditions with different expiry dates

  3. Include all under one condition to ease removal if waived

  4. One condition should encompass all requirements

  5. Conditions should not impact other agreements

  6. Ensure conditions extend past the closing date

The correct answer is: Separate conditions with different expiry dates

When several property conditions in a buyer's offer are set to different expiration dates, it is preferable to separate the conditions with different expiry dates. This approach allows for more clarity and specificity, ensuring that each condition is individually addressed and allows for easier tracking and management of each requirement. Separating the conditions with different expiry dates helps prevent any confusion or potential issues that may arise if all conditions were clustered under one with a single expiry date. It promotes transparency and organization throughout the negotiation process, making it easier for both parties to understand and fulfill the terms outlined in the offer.

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