Humber/Ontario Real Estate Course 2 Exam Practice 2025 - Free Real Estate Practice Questions and Study Guide

Question: 1 / 1300

For how long must accepted offers be kept by a brokerage?

Both accepted and unsuccessful offers for six years

Summary documents for six years

Accepted offers for six years

Accepted offers must be kept by a brokerage for six years. This is important as accepted offers are crucial documents in real estate transactions as they outline the terms and conditions agreed upon by both the buyer and the seller. Keeping these documents for six years ensures that there is a record of the agreement in case any issues or disputes arise in the future. The other options are incorrect because they do not specify the correct duration for retaining accepted offers by the brokerage.

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Sellers' brokerages for three years

All documentation for three years

Buyers' brokerages for three years

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