Humber Real Estate - Course 2, Module 18, Completing a Residential Agreement of Purchase and Sale questions with correct answers

A sign back. CORRECT 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. Using this chronological order will help you to determine when different activities must occur for the transaction to be successful. CORRECT ANSWER An offer plan should itemize what dates in chronological order? 1. List the conditions with short timeframes, for example to obtain A) Financing, B) Inspection, and C) Insurance. These conditions can be fulfilled in a week. 2. For a condition with a longer period, such as D) the sale of a buyer's property, the conditional period will be longer, for example 30 days. 3. Use one condition with the same timeframe for A, B, C and D and add an escape clause with a 48-hour notice period. CORRECT ANSWER What steps should you use to organize the clauses when drafting an offer plan? Yes.