Humber/Ontario Real Estate Course 2 Exam 2025 – 400 Free Practice Questions to Pass the Exam

Question: 1 / 1300

Which type of comparable would be most useful for appraising a new four-bedroom, two-storey home?

Recently sold homes within one mile of the area.

Properties with a similar lot size only.

Four-bedroom, two-storey homes sold within the past month and in close proximity.

For appraising a new four-bedroom, two-storey home, the most useful type of comparable would be other four-bedroom, two-storey homes that were sold within the past month and are in close proximity. This option provides the most accurate representation of the current market value of the subject property as it focuses on properties that are similar in terms of size, style, and timing.

Options A and D involve properties that may not be directly comparable in terms of features or timing, which could lead to inaccurate valuations. Option B only focuses on lot size, which is just one of many factors influencing a property's value. Options E and F, focusing on homes irrespective of the number of stories or identical floor plans, do not specifically match the criteria of a new four-bedroom, two-storey home, making them less relevant for accurate appraisal in this case.

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Homes listed but not sold in the last three months in the neighborhood.

Homes irrespective of the number of storeys.

Homes with identical floor plans.

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