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.

Who is responsible for property searches during a purchase transaction?

The buyer's lawyer
Real estate appraiser
Real estate agent
Seller’s lawyer
Municipal office
Local registry office

The correct answer is: The buyer's lawyer

During a purchase transaction, it is the responsibility of the buyer's lawyer to conduct property searches. These searches involve investigating the property's title, liens, encumbrances, and any other relevant information that may affect the property's ownership or value. By conducting these searches, the buyer's lawyer ensures that the buyer is fully informed about the property they are purchasing and can make their decision accordingly. The other options are incorrect: - Real estate appraisers are responsible for determining the market value of the property. - Real estate agents facilitate the transaction between the buyer and the seller but do not conduct property searches. - The seller's lawyer represents the seller's interests in the transaction. - Municipal offices may provide information on property taxes and zoning laws but are not responsible for property searches. - The local registry office deals with recording and maintaining property documents but does not conduct property searches during a purchase transaction.