Humber/Ontario Real Estate Course 2 Exam Practice

When processing an offer, under what condition must the listed Commission of Acceptance be clearly signed off?

1. When the buyer reviews the sale

2. When the seller’s agent verifies the transaction

3. When the agreement goes back to the seller for final signature

4. Whenever financing is secured

5. When the transaction price surpasses the initial offer

6. When none of the involved parties are stakeholders

The correct answer is: When the agreement goes back to the seller for final signature

When processing an offer, the listed Commission of Acceptance must be clearly signed off when the agreement goes back to the seller for final signature. This step ensures that the seller acknowledges and agrees to the terms and conditions of the offer before finalizing the transaction. It is crucial to have the seller's explicit approval documented in writing to avoid any misunderstandings or disputes that may arise during the sale process. Options A, B, D, E, and F are incorrect because they do not specifically address the key moment when the listed Commission of Acceptance should be signed off, which is when the agreement returns to the seller for final signature.