Humber Real Estate

Humber Real Estate - Course 2, Module 1, Explaining Services Available to a Seller or Buyer 2023 with complete solution 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. Under Ontario law, how is an 'agency relationship' defined? Client & Customer While common law uses the terms 'Principal' and 'Third Party', what terms does REBBA use instead? The Common Law of Ag...

Humber Real Estate - Course 2, Module 1, Explaining Services Available to a Seller or Buyer with complete solution 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. Under Ontario law, how is an 'agency relationship' defined? Client & Customer While common law uses the terms 'Principal' and 'Third Party', what terms does REBBA use instead? The Common Law of Agency ...

Humber Real Estate - Course 2, Module 7, Understanding Residential Construction - Mechanical Systems 2023 Questions and Answers From the street via the electrical service entrance cable into the electrical main disconnect, where it can be shut off. From there it goes to the Distribution panel and gets sent through circuits to various outlets, where appliances can be plugged in. The electrical main disconnect is often incorporated into the distribution panel. How does electrical service...

Humber Real Estate - Course 4, Module 14: Transactions Involving Development Land and Farms 2023 Questions and Answers - 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 as the size or shape of the lot, soil condition, water drainage, etc. - Th...

Humber Real Estate - Course 2, Module 17, Writing Conditions to be Included in an Agreement of Purchase Sale 2023 Questions and Answers Binding agreement When an offer doesn't contain any conditions, it's a _________ _________ once accepted by all parties. - Condition precedent - Condition subsequent What methods can be used to draft conditions? A true condition precedent. If a party is not permitted to waive a condition and is required to fulfill the condition, what is this called? ...

Humber Real Estate - Course 2, Module 15, Introducing a Residential Agreement of Purchase and Sale 2023 Questions and Answers When an offer is drafted, not signed. 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. Does the date of an offer change? Use the full legal names, and if the individual has one or more middle names, at a minimum identify the initial(s). Tip: Whenever possible, ...

Humber Real Estate - Course 2, Module 14, The Offer Process and Regulatory Obligations 2023 with complete solution No, but there is certain information relating to the rights and obligations of the parties that must be included. Is there a standard form used for the Agreement of Purchase and Sale? - The buyer is required to search the title at their own expense and make any objections within 30 days of when the agreement is made. - The seller has 30 days to remove any objection. If the s...

Humber Real Estate - Course 2, Module 9, Preparing to Market a Residential Real Property 2023 Questions and Answers - 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 property - Various reports about the neighbourhood (crime rates, etc.) What details ca...

Humber Real Estate - Course 2, Module 7, Understanding Residential Construction - Mechanical Systems 2023 with complete solution From the street via the electrical service entrance cable into the electrical main disconnect, where it can be shut off. From there it goes to the Distribution panel and gets sent through circuits to various outlets, where appliances can be plugged in. The electrical main disconnect is often incorporated into the distribution panel. How does electrical servic...

Humber Real Estate - Course 2, Module 6, Understanding Residential Construction - Structural Components 2023 with complete solution 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. Define 'Frontage' The distance between the front and the rear lot lines. Define 'Lot Depth' The distance between the two side lot lines. Define 'Lot Width' The overall area of the lot. I...

Humber Real Estate - Course 2, Module 5, The Financial Aspects of the Buying and Selling Process and the Role of Third-Party Professionals 2023 Questions and Answers - Home stager - Lender (i.e. a cost associated with discharging a mortgage early) - Surveyor - Lawyer - HST or capital gains tax - Moving expenses What are some examples of common expenses that a seller may incur in a typical real estate transaction? - Review the Agreement of Purchase and Sale - Note any deadlines to ensu...

Humber Real Estate - Course 2, Module 2, Documenting Relationships with Sellers and Buyers 2023 Questions and Answers - 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 brokerage will provide under the agreement What 4 things must be specified on ...

Humber Real Estate - Course 2, Module 1, Explaining Services Available to a Seller or Buyer 2023 with complete solution 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. Under Ontario law, how is an 'agency relationship' defined? Client & Customer While common law uses the terms 'Principal' and 'Third Party', what terms does REBBA use instead? The Common Law of Ag...

Humber Real Estate - Course 2, Module 1, Explaining Services Available to a Seller or Buyer with complete solution 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. Under Ontario law, how is an 'agency relationship' defined? Client & Customer While common law uses the terms 'Principal' and 'Third Party', what terms does REBBA use instead? The Common Law of Agency ...

Humber Real Estate - Course 2, Module 7, Understanding Residential Construction - Mechanical Systems 2023 Questions and Answers From the street via the electrical service entrance cable into the electrical main disconnect, where it can be shut off. From there it goes to the Distribution panel and gets sent through circuits to various outlets, where appliances can be plugged in. The electrical main disconnect is often incorporated into the distribution panel. How does electrical service...

Humber Real Estate - Course 4, Module 14: Transactions Involving Development Land and Farms 2023 Questions and Answers - 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 as the size or shape of the lot, soil condition, water drainage, etc. - Th...

Humber Real Estate - Course 2, Module 17, Writing Conditions to be Included in an Agreement of Purchase Sale 2023 Questions and Answers Binding agreement When an offer doesn't contain any conditions, it's a _________ _________ once accepted by all parties. - Condition precedent - Condition subsequent What methods can be used to draft conditions? A true condition precedent. If a party is not permitted to waive a condition and is required to fulfill the condition, what is this called? ...

Humber Real Estate - Course 2, Module 15, Introducing a Residential Agreement of Purchase and Sale 2023 Questions and Answers When an offer is drafted, not signed. 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. Does the date of an offer change? Use the full legal names, and if the individual has one or more middle names, at a minimum identify the initial(s). Tip: Whenever possible, ...

Humber Real Estate - Course 2, Module 14, The Offer Process and Regulatory Obligations 2023 with complete solution No, but there is certain information relating to the rights and obligations of the parties that must be included. Is there a standard form used for the Agreement of Purchase and Sale? - The buyer is required to search the title at their own expense and make any objections within 30 days of when the agreement is made. - The seller has 30 days to remove any objection. If the s...

Humber Real Estate - Course 2, Module 9, Preparing to Market a Residential Real Property 2023 Questions and Answers - 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 property - Various reports about the neighbourhood (crime rates, etc.) What details ca...