Humber/Ontario Real Estate Course 1 Exam Practice

A buyer wants to verify that the property they are purchasing matches the description in the agreement of sale. What should they obtain?

1. A title search report

2. A Surveyor's Real Property Report

3. A metes and bounds description from a surveyor

4. The previous survey document from the seller

5. A title insurance policy

6. An updated property appraisal

The correct answer is: A Surveyor's Real Property Report

A Surveyor's Real Property Report is the correct choice in this scenario because it provides the most detailed and accurate information about the physical boundaries and features of the property. This report helps the buyer ensure that the property they are purchasing matches the description in the agreement of sale. While options A, C, D, and E may provide some valuable information, they do not specifically address confirming that the property matches the description in the agreement of sale. A title search report primarily focuses on ownership history and potential encumbrances on the property. A metes and bounds description from a surveyor provides a legal description of the property's boundaries but may not verify that it matches the agreement of sale. The previous survey document from the seller may be outdated or inaccurate. Title insurance protects against title defects but does not ensure the physical aspects of the property match the agreement. An updated property appraisal evaluates the property's market value but does not confirm its physical characteristics.