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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When making an offer, in what case would a seller preliminary approval be nullified due to a following occurrence?

Insurance claim filed by a buyer after purchase
Damage to the property before closing not specified in agreement
Removing intended fixtures before the final sale
Selling amid existing claims on the house
Miscommunication between buyer and lender
A buyer taking out a new mortgage on a different property

The correct answer is: Damage to the property before closing not specified in agreement

When making an offer, a seller's preliminary approval can be nullified due to damage to the property before closing that was not specified in the agreement. This is because any significant damage to the property that occurs after the offer has been accepted but before closing can impact the overall value and condition of the property. If the damage is not specified in the agreement, the seller may have grounds to nullify the preliminary approval as it can significantly affect the terms of the sale. Options A, D, E, and F are not directly related to the condition of the property itself and do not typically impact the seller's preliminary approval being nullified in the same way that undisclosed property damage would. Option C, which mentions removing intended fixtures before the final sale, could potentially impact the sale but does not specifically address damage to the property, making it less likely to nullify the preliminary approval compared to undisclosed property damage.