Humber/Ontario Real Estate Course 4 Exam Practice

When considering a home inspection condition, what is the correct order of actions?

1. Acceptance Date, Offer Date, Home Inspection Condition Date, Completion Date

2. Offer Date, Irrevocable Date, Completion Date, Home Inspection Condition Date

3. Offer Date, Irrevocable Date, Home Inspection Condition Date, Completion Date

4. Offer Date, Home Inspection Condition Date, Completion Date, Requisition Date

5. Revocation Date, Offer Date, Irrevocable Date, Completion Date

6. Revocation Date, Offer Date, Irrevocable Date, Home Inspection Condition Date, Completion Date

The correct answer is: Offer Date, Irrevocable Date, Completion Date, Home Inspection Condition Date

The correct sequence of actions when considering a home inspection condition follows the logical progression of a real estate transaction. It begins with the offer date, which is the initial moment when a buyer expresses their intention to purchase the property. Following the offer date is the irrevocable date, which is the deadline for the seller to accept the offer. This step is crucial since it defines the timeframe for the seller's decision. After the irrevocable date, the home inspection condition is addressed, allowing the buyer to conduct a thorough inspection of the property to identify any potential issues that could impact their decision to proceed with the purchase. This step is instrumental in ensuring that the buyer is fully aware of the property's condition before finalizing the deal. Finally, the process culminates in the completion date, which signifies the official closing of the sale. At this point, ownership of the property is transferred, and the transaction is complete. The other options do not correctly capture this sequence, either by placing the home inspection condition out of order or by including irrelevant actions. Understanding this timeline is essential for navigating real estate transactions effectively.