Humber/Ontario Real Estate Course 4 Exam Practice

What’s an example of an inclusivity in a purchase agreement?

1. Ensuring the buyer obtains financing before closing.

2. Listing all furniture that will be included in the sale

3. Specifying a waiver clause in the agreement.

4. Adding a clause about environmental hazards.

The correct answer is: Listing all furniture that will be included in the sale

Including a detailed list of all furniture that will be included in the sale within a purchase agreement is a clear example of inclusivity because it specifies what is being conveyed with the property beyond just the real estate itself. This inclusion helps to avoid any misunderstandings or disputes between the buyer and the seller regarding what items are part of the transaction. By explicitly stating which pieces of furniture and possibly other personal property will be included, it ensures that both parties are on the same page about the terms of the sale. The other options reflect important elements that can appear in a purchase agreement but do not pertain directly to inclusivity in the same way. Obtaining financing is a necessary condition for completing a transaction but does not relate to inclusivity in terms of what is included in the sale. Specifying a waiver clause focuses on legal protections or exceptions rather than the physical inclusivity of items. Adding a clause about environmental hazards addresses the seller's disclosures but is not about inclusive items in the sale.