Humber/Ontario Real Estate Course 3 Exam Practice

What should be done if a property has a history of frequent pest infestations but no current issues?

1. Document this history in the sales contract.

2. Ignore since no current issues exist.

3. Make potential buyers aware of the history.

4. Only disclose if asked about it directly.

The correct answer is: Make potential buyers aware of the history.

When a property has a history of frequent pest infestations, even if there are no current issues, it is crucial to make potential buyers aware of that history. This practice aligns with the principle of full disclosure in real estate transactions, which is essential for maintaining ethical standards and protecting both the seller and the buyer. Potential buyers have the right to know any prior issues that could affect their decision-making process or the value of the property. By revealing this information, the seller fosters transparency and builds trust, allowing buyers to make informed choices based on the property's comprehensive history. This approach also helps to mitigate the risk of future disputes or legal problems that could arise if the buyer discovers the history after the purchase. Open communication about previous pest infestations gives buyers the opportunity to conduct their own inspections, assess risks, and determine the necessary preventive measures they might want to take. All of these actions contribute positively to a responsible and ethical real estate practice.