Humber/Ontario Real Estate Course 3 Exam Practice

If a buyer does not request a pre-closing inspection and discovers property issues after taking possession, what is true?

1. The final inspection should have been completed as stipulated in the agreement.

2. The seller may grant access before closing but is not required to do so.

3. A pre-closing inspection clause cannot be included in an agreement of purchase and sale.

4. The buyer has no legal recourse against the seller for such damages.

The correct answer is: The seller may grant access before closing but is not required to do so.

The correct response is based on the understanding of the seller's obligations regarding access to the property before closing and the buyer's rights. If a buyer does not request a pre-closing inspection, the seller may, at their discretion, grant access to the property before closing. However, there is no requirement for the seller to provide this access. This means that buyers should proactively ensure they're able to inspect the property prior to closing, as they cannot rely on the seller to grant this access unless it has been specifically negotiated. In context, the idea that the final inspection should have been completed as stipulated in the agreement refers to the necessity for buyers to take responsibility for ensuring that inspections occur if they wish to avoid issues after possession. Including a pre-closing inspection clause in the purchase agreement is possible and common practice, contradicting the notion in another option. Lastly, the assertion regarding the buyer's legal recourse suggests that buyers may indeed have legal options depending on the situation, especially if issues arise that could have been discovered during an inspection.