Humber/Ontario Real Estate Course 4 Exam Practice

When a property's pool cannot be evaluated during winter, how can a buyer best ensure it is in good condition?

1. Seek a verbal confirmation from the owner.

2. Apply a warranty clause with terms up to spring.

3. Divide the deposit into two parts before and after closing.

4. Include an acknowledgment of the pool's condition.

5. Reduce the property's price immediately.

6. Request an independent valuation of the pool unit.

The correct answer is: Apply a warranty clause with terms up to spring.

Applying a warranty clause with terms extending to spring is a strategic approach for a buyer in this scenario. Including a warranty clause provides assurance that the seller will be responsible for the pool's condition post-closing, allowing for any repairs or issues to be addressed without financial burden to the buyer. This clause typically stipulates that if the pool is found to have significant problems once it can be evaluated in the spring, the seller may be obligated to resolve these issues or compensate the buyer. This option also allows the buyer some peace of mind, knowing that they are protected against unforeseen expenses related to the pool that may not be evident during winter and can give the buyer the time needed to conduct a proper inspection when the pool is accessible. By doing so, the buyer can make a more informed decision regarding the investment and its long-term value. Seeking a verbal confirmation from the owner lacks the necessary documentation to protect the buyer’s interests. Dividing the deposit into two parts could complicate the transaction without adequately addressing the condition of the pool. Including an acknowledgment of the pool's condition does not provide the buyer with concrete recourse if issues arise. Reducing the property's price immediately may not be justified without a proper inspection, and requesting an independent valuation of the pool unit