Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Ontario Real Estate Exam with our comprehensive Humber Course 2 Exam Practice quiz. Engage with multiple choice questions and detailed explanations, designed to help you excel.

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What could be attributed to Seller Garcia's property selling for $30,000 less than comparable properties?

Attributed to stigma.
The crime impacting the value only if it occurred very recently.
Little or no impact on appraiser's opinion as to market value.
Best described as a detrimental condition.
Directly linked to changes in local market conditions.
A result of structural issues in the property.

The correct answer is: Attributed to stigma.

The reason why Seller Garcia's property sold for $30,000 less than comparable properties could be attributed to stigma. Stigma refers to the negative perception or association that can affect a property's value. In this case, there might be some negative history or factors associated with the property, such as a previous crime, murder, or other undesirable events that could have influenced potential buyers' perception and willingness to pay a higher price. Stigma can lead to a property selling for less than similar properties in the area, as buyers may be hesitant or unwilling to pay market value due to the negative association.