Humber/Ontario Real Estate Course 2 Exam Practice

A seller decides to sell their home "as is" without making any repairs. Which of the following disclosures are they still legally required to make?

1. That the roof is 10 years old.

2. That the home has a newly renovated kitchen.

3. That the basement has a history of flooding.

4. That the paint color in the living room is not a popular shade.

The correct answer is: That the basement has a history of flooding.

When a seller decides to sell their home "as is," it means they are selling the property in its current condition without making any repairs or improvements. Despite selling the home in its current state, the seller is still legally obligated to disclose any material defects or issues that could affect the property value or pose a risk to potential buyers. In this scenario, the disclosure that the basement has a history of flooding is crucial as it is a significant issue that buyers would need to be aware of before making a purchasing decision. This type of disclosure is important for transparency and to protect buyers from potential risks associated with the property. On the other hand, the age of the roof, a newly renovated kitchen, or the paint color in the living room are not considered material defects or issues that require disclosure in an "as is" sale.