Humber/Ontario Real Estate Course 4 Exam Practice

What determines the buyer's right to re-inspect a property just before closing?

1. Is specifically detailed in the 'Inspection' clause in the agreement of purchase and sale.

2. Must occur within three business days before sale completion.

3. Is determined based on negotiations between buyer and seller at point of offer negotiations.

4. Is normally negotiated so that a home inspector can once again view the property and identify any problems.

5. Is a standard clause required by law.

6. Must be included in the initial offer agreement.

The correct answer is: Is determined based on negotiations between buyer and seller at point of offer negotiations.

The buyer's right to re-inspect a property just before closing is determined based on negotiations between the buyer and the seller at the point of offer negotiations. This is a crucial aspect of the real estate transaction process as it allows both parties to discuss and agree on the terms and conditions regarding the buyer's ability to conduct a final inspection of the property before completing the sale. Options A, B, D, E, and F are incorrect because they do not accurately reflect the fact that the buyer's right to re-inspect a property just before closing is typically determined through negotiations between the buyer and the seller. It is not specifically detailed in the 'Inspection' clause in the agreement of purchase and sale, limited to a specific timeline of three business days before sale completion, solely for the purpose of a home inspector revisiting the property, required by law as a standard clause, or required to be included in the initial offer agreement. The flexibility to negotiate this aspect allows both parties to come to an agreement that works best for the specific transaction at hand.