HUMBER REAL ESTATE - COURSE 2, MODULE 9, PREPARING TO MARKET A RESIDENTIAL REAL PROPERTY QUESTIONS AND CORRECT ANSWERS VERIFIED LATEST GRADE A +

HUMBER REAL ESTATE - COURSE 2, MODULE 9, PREPARING TO MARKET A RESIDENTIAL REAL PROPERTY QUESTIONS AND CORRECT ANSWERS VERIFIED LATEST GRADE A +
What details can be confirmed on GeoWarehouse? - CORRECT
ANSWER>>>- 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 neighborhood (crime rates, etc.)
Before a pre-listing presentation, what details can you find in the archives
of the local listing service? - CORRECT ANSWER>>>- When did the seller
buy the property?
- How much did the seller pay for the property?
- Are there any past disclosures about the property?
How can you determine any misuse or stigma associated with a property? -
CORRECT ANSWER>>>- Check with the local police department
- Do an internet search using the property address
Before scheduling a pre-listing presentation, what question should you ask
the seller? - CORRECT ANSWER>>>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.
What are the components of a pre-listing presentation? - CORRECT
ANSWER>>>- 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)
How long is a FINTRAC form kept on file for? - CORRECT ANSWER>>>5
years
What tools are required for taking your own measurements of the property?
- CORRECT ANSWER>>>- Measuring tool (i.e. laser measuring device,
digital measuring wheel, tape measure)
- Flashlight
- Camera
- Notepad
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? - CORRECT ANSWER>>>A material latent defect.
True or false? The non-disclosure of a known serious latent defect may
invalidate the contract. - CORRECT ANSWER>>>True
To avoid future legal issues and protect both the seller and the brokerage,
you would do what during a pre-listing presentation? - CORRECT
ANSWER>>>- 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

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