Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Ontario Real Estate Course 2 Exam with our comprehensive practice tests. Study with flashcards, multiple choice questions, and detailed explanations to ensure you are ready for exam day!

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If a property has a known stigma, what is a potential consequence?

Can be considered irrelevant during negotiations.
Can impact property value for an extended period following the event causing the stigma.
Is typically favorable for property value.
Is best disclosed only if asked directly by the buyer.
Its significance is immediate and temporary.
Usually has no significant impact on the property's marketability.

The correct answer is: Can impact property value for an extended period following the event causing the stigma.

If a property has a known stigma, such as a violent crime or a suicide occurring on the premises, a potential consequence is that it can impact the property value for an extended period following the event that caused the stigma. Stigmas can have a lasting effect on a property's perceived value and may deter potential buyers even after the event has occurred. Options A, C, D, E, and F are incorrect because they do not accurately reflect the consequences of a property having a known stigma. Stigmas are not considered irrelevant during negotiations, typically favorable for property value, best disclosed only if asked directly by the buyer, immediate and temporary in significance, or having no significant impact on the property's marketability. Stigmas can have a long-lasting impact on the property value and may influence buyers' decisions for an extended period of time.