Humber Real Estate Success Bundle Graded A+ 2024.

Title - Answer Condominium owners hold ______ to their private living space (unit) and share ownership jointly of the common areas (common elements) with other owners in the condominium corporation. A legal entity that represents the collective interests of its property owners. - Answer What ...

A self-contained housing unit with one or more habitable rooms containing at minimum a kitchen, bathroom facilities and an exit from the building. - Answer Define a 'Dwelling Unit' - A duplex is under single ownership (under 1 title) ... the dwelling units can then be lived in or rented out ...

The relationship between two parties in which one party (the agent) accepts responsibility for representing the other party (the principal) in dealing with a third party. - Answer Under Ontario law, how is an 'agency relationship' defined? Client & Customer - Answer While common law uses th...

Real Estate and Business Brokers Act (REBBA) - Answer - regulates real estate trading - Ministry of Government & Consumer Services is responsible for it - RECO enforces it - provides a framework for the regulation of the profession to protect consumers & ensure integrity of interactions is uphe...

What does REBBA stand for? - Answer Real Estate and Business Brokers Act Whose role is it to enforce REBBA? - Answer RECO Purpose of REBBA? - Answer provide a framework for the responsive regulation of the real estate profession to protect consumers and ensure the integrity of real estat...

A 'Patent Defect' is observable by the untrained eye. A 'Latent Defect' is not readily observable to the untrained eye during the reasonable inspection of a property. - Answer What is the difference between a 'Patent Defect' and a 'Latent Defect'? A material latent defect because it ...

Industrial buildings range from warehouses that are typically 25,000 to 100,000 square feet, to a ________________________. - Answer 7500 acre oil refinery What 3 categories are industrial properties divided into? - Answer - General Purpose - Special Purpose - Single Purpose Industrial p...

When an offer is drafted, not signed. - Answer What is considered the 'Offer Date'? No. Even if terms are changed on a following day and the offer is re-submitted, the offer date remains the same. - Answer Does the date of an offer change? Use the full legal names, and if the individual ...

- Zoning - the highest and best use should conform with the zoning, unless there is a probable and imminent prospect that the zoning will change or be amended to accommodate the highest or best use estimate not currently legal - Physical possibility of the proposed use in relation to factors such...

What does REBBA stand for? - Answer The Real Estate and Business Brokers Act Whose role is it to enforce REBBA? - Answer RECO What is the purpose of REBBA? - Answer To provide a framework for the responsive regulation of the real estate profession to protect consumers and ensure the inte...

- A return OF the investment - A return ON the investment Ideally, a buyer will achieve both forms of investment return to make a profit (rathe than simply breaking even through a return of the investment). - Answer What are the 2 types of returns? Mix of good or services - Answer Tenant ...

False. There is only one form. While all agreements will be unique and have varying clauses, as a salesperson you will typically use the OREA Agreement of Purchase and Sale - Commercial (Form 500). - Answer True or false? There are different agreements for the various types of commercial pro...

- Property lot measurements - Registered owner(s) of the property - Last sale date of the property, with the sale price - Assessed value of the property - Legal description of the property - Description of the property (i.e. "single-family detached home" - Total square footage of the propert...

If you are unable to address these areas satisfactorily, you may need to conduct a further review with a lawyer or other third-party experts. Note: You may be asked to provide the lawyer (or third-party experts) with a verbal or written summary of the issue to address separately with the client. ...