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!

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What does the agreement of purchase and sale assume regarding a seller's obligations?

The seller has complied with all relevant property laws.
All legal paperwork is subject to buyer approval.
Any easements can be dismissed as minor.
Claims history is disclosed transparently.
Inspections must be paid for by the seller.
The seller provides a maintenance history.

The correct answer is: The seller has complied with all relevant property laws.

The agreement of purchase and sale assumes that the seller has complied with all relevant property laws. This means that the seller has followed all laws and regulations related to the property they are selling, ensuring that the property is legally and structurally sound for the buyer. The other options all mention additional obligations for the seller, but they are not necessarily assumed by the agreement of purchase and sale. For example, option B does not necessarily mean that all legal paperwork is subject to buyer approval under the agreement of purchase and sale, and option C does not mean that all easements can be dismissed as minor. Option D mentions transparency of claims history, which may or may not be included in the agreement of purchase and sale, and options E and F mention additional responsibilities related to inspections and maintenance history, which may or may not be included in the agreement as well. Therefore, A is the most accurate option as it specifically mentions the assumption of the seller complying with relevant property laws.