Humber/Ontario Real Estate Course 4 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 4 Exam with our comprehensive practice tests. Study with flashcards and multiple-choice questions, complete with hints and detailed explanations. Achieve success on your real estate licensing journey!

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What is a typical length for a holdover provision?

Typically ranges between 60 and 90 days, but can be longer.
Extends the termination date of the listing agreement.
Is most commonly found in agreements of purchase and sale.
Only applies if the buyer is introduced to the listed property after the listing expires.
Can last up to 180 days in specific circumstances.
Continues until the listing broker releases the seller from the agreement.

The correct answer is: Is most commonly found in agreements of purchase and sale.

A holdover provision is a clause commonly found in listings agreements and pertains to the period of time after the listing agreement expires during which the listing broker may still be entitled to a commission if the property is sold to a buyer who was introduced during the listing period. Therefore, option C is correct as it accurately describes where holdover provisions are typically found. Holdover provisions are not usually related to the length of time they last (option A), extending the termination date of the listing agreement (option B), applying only to buyers introduced after the listing expires (option D), lasting up to 180 days in specific circumstances (option E), or continuing until the seller is released from the agreement by the listing broker (option F).