Humber/Ontario Real Estate Course 4 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 4 Exam. Test your knowledge with quizzes and gain valuable insights into real estate concepts, regulations, and practices essential for your success in the industry.

Practice this question and more.

When Seller Morrison wants to counter a buyer's offer, what must he do?

He can only make a counter offer by using the counter offer form.
He must amend the original agreement with at least a price change and a modified irrevocable clause.
The seller must first accept the buyer's offer, then negotiate changes.
He needs to change at minimum, the price, and the deposit amount in the original offer form.

The correct answer is: He must amend the original agreement with at least a price change and a modified irrevocable clause.

When Seller Morrison wants to counter a buyer's offer, he must amend the original agreement with at least a price change and a modified irrevocable clause. This is because a counter offer is a new offer and requires changes to the terms of the original offer. Option A is incorrect because a counter offer can be made verbally or in writing, there is no specific form required. Option C is incorrect because the seller does not need to accept the offer before negotiating changes. Option D is incorrect because a counter offer requires more changes than just the price and deposit amount.