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.

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.

When presented with a buyer's offer, what options does a seller have?

Counter the offer but only regarding the price, not the terms.
Accept the offer and later require an additional deposit.
Only accept or counter the offer.
Accept, reject, or counter the offer.

The correct answer is: Accept, reject, or counter the offer.

In real estate transactions, when a seller receives a buyer's offer, they generally have the following options: accept the offer as is, reject the offer outright, or counter the offer by proposing changes to the terms and/or price. Option A is not entirely accurate as sellers can counter not only the price but also the terms of the offer. Option B is incorrect because requiring an additional deposit after accepting the offer is not a common practice and could potentially complicate the transaction. Option C is also not entirely accurate as sellers have more options than just accepting or countering the offer. Therefore, the most comprehensive and accurate option is to say that sellers can accept, reject, or counter the offer, as stated in option D.