Humber/Ontario Real Estate Course 3 Exam Practice 2024 - Free Real Estate Practice Questions and Study Guide

The correct action when suspecting the presence of an unused underground fuel storage tank is to advise the seller to contact a certified contractor for guidance. This is essential because a certified contractor has the expertise to assess the situation accurately and recommend appropriate actions based on current regulations and safety standards. They can determine whether the tank poses any risks and can guide on necessary remediation processes if needed, ensuring that both the seller and potential buyers are protected from environmental hazards associated with abandoned fuel tanks. The other options do not adequately address the potential risks associated with environmental concerns. Ignoring Urea Formaldehyde Foam Insulation or only addressing asbestos under certain conditions can overlook significant health risks. Similarly, considering lead contamination only based on visible materials may not reflect the full scope of lead-related problems, which can arise from various sources beyond plumbing. Advising that environmental concerns are only a buyer's responsibility neglects the seller's duty to disclose known issues, as these problems could impact property value and legally bind the seller in future transactions. While a complete environmental audit may be comprehensive, the immediate recommendation to consult a certified contractor is more focused and urgently addresses the present concern.