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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Salesperson Harper is aware of hidden water damage in a condo unit he is showing. When the buyer asks about potential issues, what is Harper's best course of action?

Harper should inform the buyer about the water damage.
Harper should remain silent and advise a professional inspection.
Harper should refrain from mentioning it as he is not an expert.
Harper has no duty to disclose as the issue is common knowledge.
Harper should disclose only if asked directly by the buyer.
Harper should refer the buyer to the condo's property manager.

The correct answer is: Harper should inform the buyer about the water damage.

Salesperson Harper's best course of action when aware of hidden water damage in a condo unit is to inform the buyer about the water damage. As a real estate professional, Harper has a legal and ethical duty to disclose any material facts that could affect the buyer's decision-making process. Hidden water damage is a significant issue that could potentially impact the value and desirability of the property. By disclosing this information to the buyer, Harper is being transparent and honest, which helps build trust with the client and ensures compliance with legal obligations related to real estate transactions. It is important to note that remaining silent, refraining from mentioning it, or claiming not to be an expert are not appropriate responses in this scenario. Waiting for the buyer to ask directly or referring the buyer to the property manager also do not fulfill Harper's duty to disclose material facts that could affect the transaction. Disclosure of known issues such as water damage is crucial in ensuring a fair and transparent real estate transaction.