Humber/Ontario Real Estate Course 2 Exam Practice

When preparing an offer, who is generally responsible for the accuracy of advertised property details?

1. The buyer

2. The buyer's lawyer

3. The listing brokerage

4. The seller's lawyer

5. The real estate board

6. The local municipality

The correct answer is: The listing brokerage

When preparing an offer, the correct answer is the listing brokerage. The listing brokerage is responsible for ensuring the accuracy of the advertised property details. They have a duty to provide correct and truthful information to potential buyers to avoid any misunderstandings or legal issues. It is essential for the listing brokerage to accurately represent the property to maintain transparency and build trust with all parties involved in the real estate transaction. Option A, the buyer, is not responsible for the accuracy of advertised property details as they rely on the information provided by the seller or the listing brokerage. Option B, the buyer's lawyer, typically reviews the offer and closing documents to protect the buyer's interests but is not directly responsible for ensuring the accuracy of the advertised property details. Option D, the seller's lawyer, represents the seller's interests but is not responsible for the accuracy of the property details in the listing. Option E, the real estate board, provides resources and guidelines for real estate transactions but is not directly responsible for the accuracy of individual property listings. Option F, the local municipality, is responsible for regulations and zoning laws but does not oversee the accuracy of specific property details in listings.