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.

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.

To respond to an offer that includes all acceptable terms except for the price, a seller should:

Amend the original offer's irrevocable clause and attach a counter offer with the desired price.
Sign a counter offer form indicating the higher price.
Modify the buyer’s original offer to reflect the new price.
Complete both a counter offer form and the original agreement.
Directly negotiate a new price over the phone with the buyer.
Draft a formal letter indicating the seller’s new price and intentions.

The correct answer is: Sign a counter offer form indicating the higher price.

In this scenario, the correct course of action for the seller would be to sign a counter offer form indicating the higher price (option B). When an offer has been presented with all acceptable terms except for the price, the seller can use a counter offer form to propose a new price while ensuring that all other terms remain the same. By signing a counter offer form, the seller effectively communicates their desired price to the buyer and initiates the negotiation process regarding the price. This method maintains clarity and professionalism in the negotiation process, offering a clear and formal way to address the price discrepancy without altering the other terms of the original offer.