Humber/Ontario Real Estate Course 2 Exam Practice

What best protects a buyer's interest regarding the legality of an existing parking pad?

1. Assume that, if there is no identifying metal plaque on the front of the house, the parking pad is illegal.

2. Insert a condition in the offer regarding the legality of the parking pad, to allow time for investigation.

3. Ask the seller if the parking pad is legal and complies with municipal requirements.

4. View the assessment notice and/or the tax bill for the property to check legality.

5. Assume the legality based on its condition and appearance.

6. Contact the previous owner regarding the legality of the parking pad.

The correct answer is: Insert a condition in the offer regarding the legality of the parking pad, to allow time for investigation.

Inserting a condition in the offer regarding the legality of the parking pad to allow time for investigation is the best option to protect a buyer's interests. This condition gives the buyer an opportunity to look into the legality of the parking pad before committing to the purchase. It allows the buyer to conduct any necessary research, such as checking municipal requirements, obtaining permits, or consulting with relevant authorities to ensure that the parking pad meets all legal requirements. By including this condition in the offer, the buyer can make an informed decision based on the outcome of their investigation. Options A, D, and E are not as reliable as they involve making assumptions or only checking superficial aspects of the parking pad. Option C may not always result in accurate information, as the seller may not have all the necessary details or could provide misleading information. Option F might not be practical or feasible in every situation and may not guarantee accurate information regarding the legality of the parking pad. Therefore, these options are not as effective as inserting a condition in the offer for investigation.