Humber/Ontario Real Estate Course 2 Exam Practice

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What is NOT necessary for Salesperson Kay to disclose when purchasing an investment property through their brokerage?

  1. Kay's status as a registrant

  2. Details that could affect the property's value

  3. Personal reasons for buying the property

  4. Any negotiations to resell the property

  5. The offer amount to the seller

The correct answer is: Personal reasons for buying the property

Salesperson Kay is not required to disclose their personal reasons for buying the property as it is not relevant to the purchase of the property itself. Options A, B, and D are all necessary for Kay to disclose as part of their professional responsibilities as a registrant. By disclosing their status as a registrant, Kay is upholding the ethical standards and regulations set for their profession. Providing details that could affect the property's value is important for transparency and ensuring the best interests of their clients. Any negotiations to resell the property should also be disclosed to avoid conflicts of interest. Option E, disclosing the offer amount to the seller, is necessary for the transaction to proceed smoothly and fairly.

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