Humber/Ontario Real Estate Course 2 Exam Practice

Disable ads (and more) with a membership for a one time $2.99 payment

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!

Practice this question and more.

What is the primary purpose of a Seller Property Information Statement (SPIS)?

To disclose financial obligations of the buyer
To provide details of the property's condition by the seller
To outline the agreement terms between buyer and seller
To list recent property renovations by a certified inspector
To recommend market analysis by the agent
To ensure legal compliance during property transactions

The correct answer is: To provide details of the property's condition by the seller

The primary purpose of a Seller Property Information Statement (SPIS) is to provide details of the property's condition by the seller. This document is intended to offer potential buyers information about the property from the seller's perspective, including any known issues or defects. By doing so, it aims to promote transparency in the transaction process and assist buyers in making informed decisions about the property they are considering purchasing. It is essential for buyers to have a comprehensive understanding of the property they are interested in, and the SPIS serves as a crucial tool in this regard.