Humber/Ontario Real Estate Course 4 Exam Practice

Salesperson Jamal is representing a seller client and through his pre-listing research has uncovered several details. Which of these would NOT be considered a material fact for a seller?

1. Living space is less than expected

2. Basement suite is not legally compliant

3. Neighbour's deck encroachment is unresolved

4. Lot dimensions are verified accurate

5. Roof is nearing the end of its useful life

6. Government plans new infrastructure nearby

The correct answer is: Lot dimensions are verified accurate

Lot dimensions being verified as accurate would not typically be considered a material fact for a seller in the context of the properties and obligations they must disclose. A material fact is generally one that would affect the buyer's decision to purchase the property or the value they assign to it. When lot dimensions are accurately verified, it indicates that the property boundaries are as presented, which does not inherently pose a risk or concern for the seller. In contrast, factors such as a basement suite being non-compliant, unresolved encroachments, a roof nearing the end of its useful life, or upcoming governmental infrastructure can significantly influence both the buyer's perception of the property and its marketability. Thus, the verification of accurate lot dimensions is less likely to impact a seller's responsibilities or affect the transaction's outcome compared to the other options listed.