Humber Real Estate - Course 2, Module 9, Preparing to Market a Residential Real Property UPDATED Questions and CORRECT Answers
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Course
Humber Real Estate
Institution
Humber Real Estate
Humber Real Estate - Course 2, Module 9,
Preparing to Market a Residential Real
Property UPDATED Questions and
CORRECT Answers
- Property lot measurements
- Registered owner(s) of the property
- Last sale date of the property, with the sale price
- Assessed value of the property
- Legal ...
Humber Real Estate - Course 2, Module 9,
Preparing to Market a Residential Real
Property UPDATED Questions and
CORRECT Answers
- Property lot measurements
- Registered owner(s) of the property
- Last sale date of the property, with the sale price
- Assessed value of the property
- Legal description of the property
- Description of the property (i.e. "single-family detached home"
- Total square footage of the property
- Various reports about the neighbourhood (crime rates, etc.) - Correct Answer- What details
can be confirmed on GeoWarehouse?
- When did the seller buy the property?
- How much did the seller pay for the property?
- Are there any past disclosures about the property? - Correct Answer- Before a pre-listing
presentation, what details can you find in the archives of the local listing service?
- Check with the local police department
- Do an internet search using the property address - Correct Answer- How can you determine
any misuse or stigma associated with a property?
Are you working with another salesperson or brokerage? If they say yes, you should end
further communication with them.
If not, you can ask them why they are selling their property. - Correct Answer- Before
scheduling a pre-listing presentation, what question should you ask the seller?
- Information about the history and success of the brokerage
,- Information about yourself
- Applicable forms, such as a representation agreement,
data sheet and property disclosure forms
- Past and current client testimonials
- Supporting documentation (i.e. other listings, market trend information and related analysis
to assist in the discussion)
- Overall strategy for establishing a listing price and marketing their property
- Information about current market conditions (i.e. whether it's a seller's market, buyer's
market or balanced market) - Correct Answer- What are the components of a pre-listing
presentation?
5 years - Correct Answer- How long is a FINTRAC form kept on file for?
- Measuring tool (i.e. laser measuring device, digital measuring wheel, tape measure)
- Flashlight
- Camera
- Notepad - Correct Answer- What tools are required for taking your own measurements of
the property?
A material latent defect. - Correct Answer- What type of defect would it be if a property
experienced extensive basement flooding during the spring thaw but cannot be detected in the
winter?
True - Correct Answer- True or false? The non-disclosure of a known serious latent defect
may invalidate the contract.
- Ask the seller questions about the condition of the property
, - Use a seller property information statement to help identify known latent defects and obtain
the seller's permission to make this statement available to all interested parties
- Ensure the seller understands the importance of making accurate statements about the
condition of the property, particularly relating to material latent defects
- Remind the seller of their legal obligation to disclose known latent defects to all potential
buyers
- Advise the seller that non-disclosure of a serious latent defect may invalidate the agreement
of purchase and sale or lead to legal consequences - Correct Answer- To avoid future legal
issues and protect both the seller and the brokerage, you would do what during a pre-listing
presentation?
- Finished or unfinished
- Cracks
- Moisture
- Mould
- Peeling paint
- Water stains - Correct Answer- During a visual inspection, what should you look for in the
attic and basement?
Floors:
- Type of floors (hardwood, laminate, broadloom, ceramic)
- Condition of the floors (slanted, warped)
Staircase:
- Safety rail
- Slanted or loose stairs
- A large number of stairs that would be a problem for a person with limited mobility -
Correct Answer- During a visual inspection, what should you look for in relation to floors and
staircases?
- Cracks
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