Humber/Ontario Real Estate Course 2 Exam Practice

Salesperson Dave has created an offer that is irrevocable until a specified date and includes a zoning detail in the 'present use' field of the agreement of purchase and sale. What should he do?

1. Can leave the space blank

2. Is following proper drafting procedures as certain details must be inserted in this blank space

3. Has correctly filled in the blank space by including the current zoning

4. Must include both a description of the current zoning and the present use

The correct answer is: Must include both a description of the current zoning and the present use

In this scenario, it is important for Salesperson Dave to include both a description of the current zoning and the present use in the 'present use' field of the agreement of purchase and sale. This requirement ensures that all parties involved in the transaction have a comprehensive understanding of the property's zoning designation and its current use. Providing both details helps prevent any potential misunderstandings or disputes regarding the property's intended use and zoning regulations. It is a best practice to include all relevant information to ensure clarity and transparency in the agreement.