Humber/Ontario Real Estate Course 2 Exam Practice

Disable ads (and more) with a membership for a one time $2.99 payment

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.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

What is involved in qualifying a buyer?

Assessing their financial ability
Focusing solely on important home features
Appropriate only for buyer clients, not buyer customers
Assessing their interest in the local market
Determining their readiness to move
Identifying desired neighbourhoods

The correct answer is: Assessing their financial ability

Qualifying a buyer involves assessing their financial ability, which is why option A is the correct answer. Understanding a buyer's financial situation is crucial in the home buying process as it helps determine their purchasing power and what type of properties they can afford. Assessing financial ability involves looking at factors such as income, credit score, debt-to-income ratio, and available funds for a down payment and closing costs. By evaluating these financial aspects, real estate agents can better guide buyers towards properties that are within their budget and meet their needs. The other options are not directly related to the process of qualifying a buyer. While features of a home, interest in the local market, readiness to move, and desired neighborhoods are important considerations in the home buying process, they do not encompass the comprehensive financial assessment that is involved in qualifying a buyer.