Humber/Ontario Real Estate Course 2 Exam Practice

When negotiating a purchase and sale agreement, who is responsible for obtaining a new survey?

1. Always the seller

2. Always the buyer

3. Either the buyer or the seller

4. The local government

5. The survey must be waived

6. A reputable survey company

The correct answer is: Either the buyer or the seller

When negotiating a purchase and sale agreement, the responsibility for obtaining a new survey can vary depending on the specific terms agreed upon by the buyer and the seller. It is not always the sole responsibility of the buyer or the seller; instead, it is negotiable between the parties involved. Therefore, option C is correct because either the buyer or the seller can take on the responsibility of obtaining a new survey based on what is agreed upon during the negotiation process. While the local government may have some involvement in survey-related matters, they are not typically responsible for obtaining a new survey in a real estate transaction. Similarly, the involvement of a survey company may be necessary to conduct the survey but they are not the responsible party for obtaining it unless explicitly stated in the agreement. Therefore, the correct answer is option C because the responsibility for obtaining a new survey is not fixed and can be assigned to either the buyer or the seller through negotiation.