Which of the following is true, regarding Property Inspections within a typical real estate purchase process in Canada?
1) The condition of a property inspection that is part of an offer to purchase real estate may be in the form of an option to terminate, a condition precedent, or a statement of adjustment
2) A patent defect is not readily apparent upon ordinary inspection
3) A latent defect need not be disclosed by the vendor
4) Caveat emptor, which applies to the sale of goods, does not generally apply to the sale of land
5) If there is an inaccuracy in a property condition disclosure statement, it can be deemed a misrepresentation by the court