Humber Real Estate - Course 2, Module 19, Additional Sale-Related Documents and Other Legal Obligations ;Humber Real Estate - Course 3, Module 3, Completing Agreements of Purchase and Sale For Residential Condominiums;Course 2, Module 9, Preparing to Market a Residential Real Property;Course 2, Mod...
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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 integrity ...
Voorbeeld 1 van de 4 pagina's
In winkelwagenWhat 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 integrity ...
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 estate tran...
Voorbeeld 4 van de 59 pagina's
In winkelwagenWhat 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 estate tran...
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 upheld...
Voorbeeld 2 van de 8 pagina's
In winkelwagenReal 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 upheld...
What are the 2 types of offices a brokerage can have? - ANSWER-- Main brokerage office - Branch office Does every branch office require a Broker of Record? - ANSWER-No. Only 1 Broker of Record is required for the main office only. Each branch office is assigned its own Branch Manager to provid...
Voorbeeld 2 van de 6 pagina's
In winkelwagenWhat are the 2 types of offices a brokerage can have? - ANSWER-- Main brokerage office - Branch office Does every branch office require a Broker of Record? - ANSWER-No. Only 1 Broker of Record is required for the main office only. Each branch office is assigned its own Branch Manager to provid...
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 the te...
Voorbeeld 2 van de 13 pagina's
In winkelwagenThe 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 the te...
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 is t...
Voorbeeld 3 van de 25 pagina's
In winkelwagenTitle - 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 is t...
Define 'Estate' - ANSWER-An interest in land that contains various rights associated with ownership or tenancy. What are the 2 most common types of estates? - ANSWER-Fee simple & leasehold. What type of rights would be required to build a bridge, railroad or skyscraper? - ANSWER-Air rights ...
Voorbeeld 2 van de 6 pagina's
In winkelwagenDefine 'Estate' - ANSWER-An interest in land that contains various rights associated with ownership or tenancy. What are the 2 most common types of estates? - ANSWER-Fee simple & leasehold. What type of rights would be required to build a bridge, railroad or skyscraper? - ANSWER-Air rights ...
- Attend a listing or offer presentation in a support role with a salesperson (i.e. taking photos or measuring rooms) - Set up listing files, complete marketing sheets, submit listings & changes to the MLS - Witness a seller or buyer signature - Schedule appts for a broker / salesperson - Draft ...
Voorbeeld 2 van de 8 pagina's
In winkelwagen- Attend a listing or offer presentation in a support role with a salesperson (i.e. taking photos or measuring rooms) - Set up listing files, complete marketing sheets, submit listings & changes to the MLS - Witness a seller or buyer signature - Schedule appts for a broker / salesperson - Draft ...
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 has ...
Voorbeeld 2 van de 15 pagina's
In winkelwagenWhen 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 has ...
- The effective date and expiry date of the agreement (can only be one expiry date) - The method for calculating commission or other remuneration payable to the brokerage (in the case of a seller, the amount payable) - How the commission or other remuneration will be paid - The services that the ...
Voorbeeld 2 van de 10 pagina's
In winkelwagen- The effective date and expiry date of the agreement (can only be one expiry date) - The method for calculating commission or other remuneration payable to the brokerage (in the case of a seller, the amount payable) - How the commission or other remuneration will be paid - The services that the ...
Comparative Market Analysis - ANSWER-What does CMA stand for? - The Appraisal Institute of Canada (AIC) - The Canadian National Association of Real Estate Appraisers - ANSWER-What are the 2 organizations that designate appraisers in Canada? Canadian Residential Appraiser (CRA): - Qualified...
Voorbeeld 2 van de 8 pagina's
In winkelwagenComparative Market Analysis - ANSWER-What does CMA stand for? - The Appraisal Institute of Canada (AIC) - The Canadian National Association of Real Estate Appraisers - ANSWER-What are the 2 organizations that designate appraisers in Canada? Canadian Residential Appraiser (CRA): - Qualified...
A sign back. - ANSWER-A counter offer is also known as what? - Offer date - Irrevocable - Expiry of conditions - conditional date - Requisition - title search date - Completion or closing date Note: The order of these dates does not follow the order on the agreement of purchase and sale. U...
Voorbeeld 2 van de 7 pagina's
In winkelwagenA sign back. - ANSWER-A counter offer is also known as what? - Offer date - Irrevocable - Expiry of conditions - conditional date - Requisition - title search date - Completion or closing date Note: The order of these dates does not follow the order on the agreement of purchase and sale. U...
The side of the street that abuts or borders a public street or highway - except for waterfront properties which is considered the side that border the body of water. - ANSWER-Define 'Frontage' The distance between the front and the rear lot lines. - ANSWER-Define 'Lot Depth' The distance ...
Voorbeeld 3 van de 26 pagina's
In winkelwagenThe side of the street that abuts or borders a public street or highway - except for waterfront properties which is considered the side that border the body of water. - ANSWER-Define 'Frontage' The distance between the front and the rear lot lines. - ANSWER-Define 'Lot Depth' The distance ...
Yes, to ensure the property is protected. - ANSWER-Is it mandatory to be present at any third-party inspections at the home? - A buyer representation agreement or a buyer customer service agreement - The accepted agreement of purchase and sale - The FINTRAC form for identification verificat...
Voorbeeld 2 van de 12 pagina's
In winkelwagenYes, to ensure the property is protected. - ANSWER-Is it mandatory to be present at any third-party inspections at the home? - A buyer representation agreement or a buyer customer service agreement - The accepted agreement of purchase and sale - The FINTRAC form for identification verificat...
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. ...
Voorbeeld 1 van de 4 pagina's
In winkelwagenIf 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. ...
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 po...
Voorbeeld 2 van de 6 pagina's
In winkelwagenA '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 po...
- 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...
Voorbeeld 2 van de 11 pagina's
In winkelwagen- 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...
- Data sheet (accompanies the listing authority) - Warranty information for anything that has a transferable warranty - Municipal Property Assessment Corporation (MPAC) assessment - Verification of home owner's insurance - Statements and contracts for any rental equipment items - Sup...
Voorbeeld 2 van de 5 pagina's
In winkelwagen- Data sheet (accompanies the listing authority) - Warranty information for anything that has a transferable warranty - Municipal Property Assessment Corporation (MPAC) assessment - Verification of home owner's insurance - Statements and contracts for any rental equipment items - Sup...
The Salesperson can obtain information and verify using the following sources: - listing data sheet, including by contacting the listing Salesperson - various source documents, such as a deed, survey - seller's disclosure document regarding property conditions - seller's pre-listing home in...
Voorbeeld 4 van de 56 pagina's
In winkelwagenThe Salesperson can obtain information and verify using the following sources: - listing data sheet, including by contacting the listing Salesperson - various source documents, such as a deed, survey - seller's disclosure document regarding property conditions - seller's pre-listing home in...
- Date and time of the request - Consumer's name and contact information - Applicable 10-digit phone number(s) - ANSWER-A brokerage, as a telemarketer, must register with the National Do Not Call List (DNCL) but also maintain an internal do not call list. What should the internal do not call list...
Voorbeeld 3 van de 18 pagina's
In winkelwagen- Date and time of the request - Consumer's name and contact information - Applicable 10-digit phone number(s) - ANSWER-A brokerage, as a telemarketer, must register with the National Do Not Call List (DNCL) but also maintain an internal do not call list. What should the internal do not call list...
Binding agreement - ANSWER-When an offer doesn't contain any conditions, it's a _________ _________ once accepted by all parties. - Condition precedent - Condition subsequent - ANSWER-What methods can be used to draft conditions? A true condition precedent. - ANSWER-If a party is not permit...
Voorbeeld 2 van de 10 pagina's
In winkelwagenBinding agreement - ANSWER-When an offer doesn't contain any conditions, it's a _________ _________ once accepted by all parties. - Condition precedent - Condition subsequent - ANSWER-What methods can be used to draft conditions? A true condition precedent. - ANSWER-If a party is not permit...
- 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...
Voorbeeld 2 van de 13 pagina's
In winkelwagen- 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...
- 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...
Voorbeeld 2 van de 13 pagina's
In winkelwagen- 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...
No. They can vary significantly from builder to builder or even from project to project. - ANSWER-Is there a standardized form for builder's agreements? - Dimensions - Materials of rooms, cupboards & countertops - Descriptions of future facilities planned for the site - Schedules for deposit ...
Voorbeeld 2 van de 8 pagina's
In winkelwagenNo. They can vary significantly from builder to builder or even from project to project. - ANSWER-Is there a standardized form for builder's agreements? - Dimensions - Materials of rooms, cupboards & countertops - Descriptions of future facilities planned for the site - Schedules for deposit ...
The brokerage - ANSWER-As a salesperson, you may not be required to prepare a trade record sheet. They are typically done by who? True. Any changes must be in a new document called an amendment. Only the altered or amended term(s) are written in the new document, and it's meant to be read ...
Voorbeeld 2 van de 15 pagina's
In winkelwagenThe brokerage - ANSWER-As a salesperson, you may not be required to prepare a trade record sheet. They are typically done by who? True. Any changes must be in a new document called an amendment. Only the altered or amended term(s) are written in the new document, and it's meant to be read ...
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