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 is a salesperson's responsibility when dealing with conditions in an offer for a buyer-client?

  1. Always encourage a buyer to waive a mortgage condition

  2. Checking that the condition is fulfilled on time

  3. Ensure a home inspector arrives on time only

  4. Provide notice of fulfillment or a waiver

  5. Reviewing all conditions for completeness

  6. Writing additional conditions after offer acceptance

The correct answer is: Provide notice of fulfillment or a waiver

When dealing with conditions in an offer for a buyer-client, a salesperson's responsibility is to provide notice of fulfillment or a waiver. This means that the salesperson needs to keep track of the conditions outlined in the offer and ensure that they are either met as stipulated or waived if necessary. This is crucial in ensuring that the transaction progresses smoothly and that both parties are informed about the status of the conditions. Option A is incorrect because a salesperson should not always encourage a buyer to waive a mortgage condition as it may not be in the buyer's best interest. Option B is partially correct as part of the salesperson's responsibility includes checking that the condition is fulfilled on time. Option C is incorrect because a salesperson's responsibility is not limited to ensuring a home inspector arrives on time only. Option E is also partially correct as reviewing all conditions for completeness is indeed an important aspect of a salesperson's responsibility. Option F is incorrect as writing additional conditions after offer acceptance is typically not the role of a salesperson and could lead to complications in the transaction.