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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What can be a condition related to a supplementary deposit in a purchase and sale agreement?

The closing date’s verification.
Satisfactory home inspection results.
The balance due on closing is unaffected.
Survey costs distribution.
The execution of the seller representation agreement.
The property being priced below market value.

The correct answer is: Satisfactory home inspection results.

In a purchase and sale agreement, a supplementary deposit can often be made conditional on certain factors to protect the buyer's interests. One common condition related to a supplementary deposit is the satisfactory home inspection results. This means that the buyer can provide a supplementary deposit, but it is contingent upon the home inspection results meeting their satisfaction. If the inspection reveals significant issues or concerns with the property, the buyer may have the option to walk away from the deal without losing the supplementary deposit. Options A, C, D, E, and F are not directly related to conditions typically associated with a supplementary deposit in a purchase and sale agreement.