Humber/Ontario Real Estate Course 2 Exam Practice

What is a condition relating to a property inspection typically associated with?

1. Mitigating risks for the seller

2. Part of the pre-printed clauses in an agreement

3. Should be discouraged unless it's a buyer's market

4. Arranged by the buyer at their expense

5. Obligatory for all transactions

6. Optional based on mutual agreement

The correct answer is: Arranged by the buyer at their expense

A condition relating to a property inspection is typically associated with being arranged by the buyer at their expense. This means that the buyer has the responsibility to hire a qualified home inspector to evaluate the property's condition before finalizing the purchase. Property inspections are often seen as a standard practice in real estate transactions to protect the buyer's interests and ensure they are aware of any potential issues with the property before completing the purchase. It is crucial for buyers to conduct an inspection to make informed decisions and potentially negotiate repairs or adjustments to the purchase price based on the inspection findings.