Humber/Ontario Real Estate Course 4 Exam Practice

What responsibility does a salesperson have after the acceptance of an agreement without a home inspection clause?

1. Informing the buyer of potential visible deficiencies post-closing.

2. Ensuring the seller fixes any deficiencies discovered after closing.

3. Providing a legal disclaimer on the final sale document.

4. Advising buyers on risks but no obligation for missed inspections.

5. Offering compensation for any post-sale discovered defects.

The correct answer is: Informing the buyer of potential visible deficiencies post-closing.

The correct choice emphasizes the salesperson's responsibility to inform the buyer of potential visible deficiencies post-closing. This aligns with the principle of duty of care within the real estate profession. After an agreement is accepted, especially without a home inspection clause, the salesperson is expected to disclose any observable issues that could affect the buyer's decision or the value of the property. This can include conditions like structural issues, outdated systems, and other visible defects that the buyer may not have noticed during their initial viewing. The context surrounding this responsibility highlights the importance of transparency in real estate transactions. While the seller may have obligations regarding undetected defects, the salesperson's role is primarily focused on communication. They are not expected to conduct repairs or offer financial compensation for issues that emerge after the sale; rather, their duty is to ensure the buyer is aware of any significant concerns that could lead to future complications or dissatisfaction with the purchase. This obligation to inform reflects the ethical standards of practice expected in the real estate industry.