Humber/Ontario Real Estate Course 1 Exam Practice

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What document typically outlines the terms and conditions of a real estate sale agreement?

  1. Order of Possession

  2. Offer to Purchase

  3. Notice of Sale

  4. Agreement of Purchase and Sale

The correct answer is: Agreement of Purchase and Sale

The correct answer is D. Agreement of Purchase and Sale. This document is the one that typically outlines the terms and conditions of a real estate sale agreement. It is a legally binding contract between the buyer and the seller, detailing important information such as the purchase price, the closing date, any conditions that need to be met, and the responsibilities of both parties. The other options, such as Order of Possession, Offer to Purchase, and Notice of Sale, are not typically used to outline the terms and conditions of a real estate sale agreement.

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