Humber/Ontario Real Estate Course 2 Exam Practice

What do closing costs for a buyer typically include?

1. Fees for title document registration

2. Infrequent adjustments for property taxes

3. All details from the real estate salesperson

4. HST for resale properties

5. Not included in property price negotiations

6. Payment evenly spread over time

The correct answer is: Fees for title document registration

Closing costs for a buyer typically include fees for title document registration. This is because when a property is purchased, the buyer needs to legally register the ownership transfer with the appropriate government authorities, which incurs a fee. This is a common closing cost that buyers are responsible for. The other options are incorrect because: - "Infrequent adjustments for property taxes" are typically handled between the buyer and the seller as part of closing adjustments, but they are not standard closing costs for the buyer. - "All details from the real estate salesperson" is not a closing cost but rather information and guidance provided by the real estate salesperson during the transaction. - "HST for resale properties" may be applicable in certain situations, but it is not a standard closing cost for buyers. - "Not included in property price negotiations" is not accurate as closing costs are typically negotiated and agreed upon as part of the overall purchase agreement. - "Payment evenly spread over time" does not relate to closing costs but rather the payment terms of the purchase.