Humber/Ontario Real Estate Course 3 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 3 Exam with our practice quizzes. Study using multiple-choice questions complete with hints and explanations. Ace your exam with confidence!

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Upon seller acceptance of an agreement by a nearby buyer, what is the requirement for document delivery?

Buyer's copy first due to signing the agreement's acceptance first
Seller's copy within 24 hours post-acceptance
Immediate delivery to Seller only, while buyer gets a delayed copy
Both buyer and seller must receive copies immediately upon acceptance
Seller's copy immediately then the buyer’s copy within 48 hours
Seller must notarize his copy before buyer receives hers

The correct answer is: Both buyer and seller must receive copies immediately upon acceptance

The requirement for document delivery upon seller acceptance of an agreement is that both the buyer and seller must receive copies immediately upon acceptance. This practice ensures transparency and a mutual understanding of the agreement's terms by all parties involved. Promptly delivering copies of the agreement helps to prevent any miscommunication or disputes about the terms of the transaction. Timely delivery of documentation is crucial in real estate transactions, as it establishes clear ownership of the agreed terms and conditions, ensures that both parties are informed, and allows for any necessary follow-up actions to be initiated without delay. This approach aligns with the principle of maintaining clear communication and trust in real estate transactions, which is vital for a smooth and efficient process.