Humber/Ontario Real Estate Course 4 Exam Practice

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Humber/Ontario Real Estate Course 4 Exam. Study with tailored quizzes and flashcards. Get insights into exam format and tips to succeed.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

When Seller Dalinda accepts and signs the agreement of purchase and sale, what becomes of the copies of the agreement?

Are held by the listing brokerage and given to buyer and seller only when requested.
Must be delivered to all parties once the trade record is signed.
Are delivered immediately to all involved parties.
Must be given to the broker of record right away.

The correct answer is: Are delivered immediately to all involved parties.

The correct response highlights the important protocol in real estate transactions regarding the handling of agreements of purchase and sale. When Seller Dalinda signs the agreement, it is essential for transparency and record-keeping that copies of the agreement are delivered immediately to all involved parties, including the buyer and any respective brokers. This ensures that everyone is aware of the terms and can act accordingly, which is vital for maintaining trust and communication throughout the transaction process. The other potential responses do not align with the standard practices in real estate. For instance, holding the agreements and only providing them upon request can lead to confusion and disrupt the flow of the transaction. Additionally, requiring delivery only after the trade record is signed or prioritizing the broker of record contradicts the timely communication that is necessary in the deal-making process.