Humber/Ontario Real Estate Course 3 Exam Practice

When listing a property and suspecting the presence of an unused underground fuel storage tank, what action should be taken?

1. Advise the seller to contact a certified contractor for guidance.

2. Ignore concerns about Urea Formaldehyde Foam Insulation as it was banned in the 1980s.

3. Address asbestos only if it is not airborne, such as when included in floor tiles.

4. Only consider lead contamination if lead pipes or lead-based materials were used in the plumbing.

5. Recommend the seller performs a complete environmental audit of the property.

6. Advise the seller that environmental concerns are a buyer's responsibility.

The correct answer is: Advise the seller to contact a certified contractor for guidance.

The correct action when suspecting the presence of an unused underground fuel storage tank is to advise the seller to contact a certified contractor for guidance. This is essential because a certified contractor has the expertise to assess the situation accurately and recommend appropriate actions based on current regulations and safety standards. They can determine whether the tank poses any risks and can guide on necessary remediation processes if needed, ensuring that both the seller and potential buyers are protected from environmental hazards associated with abandoned fuel tanks. The other options do not adequately address the potential risks associated with environmental concerns. Ignoring Urea Formaldehyde Foam Insulation or only addressing asbestos under certain conditions can overlook significant health risks. Similarly, considering lead contamination only based on visible materials may not reflect the full scope of lead-related problems, which can arise from various sources beyond plumbing. Advising that environmental concerns are only a buyer's responsibility neglects the seller's duty to disclose known issues, as these problems could impact property value and legally bind the seller in future transactions. While a complete environmental audit may be comprehensive, the immediate recommendation to consult a certified contractor is more focused and urgently addresses the present concern.