Humber/Ontario Real Estate Course 2 Exam Practice

Question: 1 / 1300

When assessing property for sale, which factor is critical to determining the buyer's potential offer?

The buyer's credit score.

The location and condition of the property.

When assessing a property for sale, the critical factor in determining the buyer's potential offer is the location and condition of the property. This is because the location of a property affects its desirability, resale value, and potential for appreciation. Additionally, the condition of the property plays a significant role in determining how much work and money a buyer may need to invest in repairs or renovations.

Although factors like the buyer's credit score, the seller's urgency to sell, the neighborhood's crime rate, zoning restrictions, and the renovation history of the property can also be important considerations in a real estate transaction, they do not directly impact the buyer's potential offer as much as the location and condition of the property do.

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The seller's urgency to sell.

The neighborhood's crime rate.

The zoning restrictions in the area.

The renovation history of the property.

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