Humber/Ontario Real Estate Course 2 Exam Practice

Disable ads (and more) with a membership for a one time $2.99 payment

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.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Seller Clark has a survey from approximately 12 years ago when he purchased his property. When he lists the property, he provides the survey to the buyer via the listing salesperson. What can the buyer do?

Must accept the existing survey as valid and attach it to the purchase agreement.
Can demand that the seller provides a new survey.
Does not need a survey if they obtain title insurance.
May choose to have a new survey conducted.

The correct answer is: May choose to have a new survey conducted.

In this scenario, the buyer has the option to choose to have a new survey conducted. While the seller has provided an existing survey from approximately 12 years ago, it may not provide all the current and updated information about the property. By opting to have a new survey done, the buyer can ensure that they have the most accurate and up-to-date information regarding the property boundaries, encroachments, easements, zoning compliance, and any other relevant details that could affect their decision to purchase the property. Options A, B, and C are not the correct choices in this case. The buyer is not obligated to accept the existing survey as valid and attach it to the purchase agreement (Option A), nor can they demand that the seller provides a new survey (Option B). While title insurance can provide some protection, it is not a substitute for a survey, which provides specific details about the property itself (Option C).