Humber/Ontario Real Estate Course 4 Exam Practice

If a buyer is handed a 12-year-old survey by the listing salesperson, what can the buyer legally do?

1. Accept the existing survey and attach it to the purchase agreement.

2. Demand a new survey from the seller.

3. Proceed without a survey if title insurance is acquired.

4. Choose to have a new survey done.

5. File a complaint for not receiving an updated survey.

6. Request a reduction in the purchase price to cover survey costs.

The correct answer is: Choose to have a new survey done.

The choice to have a new survey done is appropriate because surveys provide the most current information about a property’s boundaries, structures, and any easements or encroachments. A 12-year-old survey may not accurately represent the current state of the property, especially if there have been changes to the property or surrounding area since the survey was completed. Having a new survey ensures that the buyer has the most accurate and reliable information necessary for making an informed purchasing decision. The other options present limitations or assumptions that may not align with legal practices. For instance, accepting an outdated survey may expose the buyer to risks related to property boundaries or zoning violations. Demanding a new survey from the seller might not be a legally binding request unless stipulated in the purchase agreement or negotiated terms. Proceeding without a survey, even with title insurance, can lead to complications if undisclosed issues arise later. Requesting a reduction in price or filing a complaint are also actions that may not directly address the need for updated property information, which is fundamental to the transaction. Thus, the option to choose to have a new survey done emphasizes the buyer's right to ensure they are fully informed about their prospective property.