Ace the Humber/Ontario Real Estate Course 4 Exam 2025 – Unlock Your Property Potential!

Image Description

Question: 1 / 1255

Which statement is true about handling multiple competing offers?

The seller must accept the highest price offer.

The seller has the right to accept any of the offers, regardless of the price.

The correct statement is that the seller has the right to accept any of the offers, regardless of the price. This reflects the fundamental principle of real estate transactions where the seller ultimately has the discretion to choose which offer to accept based on various factors beyond just price. These factors may include the terms of the offer, the buyer's financial qualifications, contingencies, and the overall strength of the offer.

In real estate, it is common for sellers to weigh offers considering the entirety of what they present, not solely focused on the highest monetary amount. This flexibility allows sellers to make choices that align with their personal goals or particular circumstances pertaining to their property sale.

While some other options touch upon elements of the offer process, they do not capture the seller's autonomy in selecting an offer based on their preferences and strategic considerations.

Get further explanation with Examzify DeepDiveBeta

The seller has to choose between accepting or countering one of the offers.

The listing brokerage's offer takes priority over others.

The seller must negotiate with the top two offers before making a decision.

The seller must reject all offers if none meet the asking price.

Next Question

Report this question

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy