Ace the Humber/Ontario Real Estate Course 3 Exam 2025 – Your Ultimate Path to Property Success!

The correct approach for an appraiser when selecting comparable properties is to focus on those that are as similar as possible to the subject property. This means prioritizing a nearby four-bedroom, two-storey property that has recently sold, ideally one that closely resembles the subject in terms of physical characteristics. The recency of the sale—like being sold two weeks prior—ensures that the pricing reflects current market conditions. This approach enhances the reliability of the appraisal as it provides a solid basis for comparison based on key attributes that affect home value.

In this context, selecting comparables merely based on location or the ease of finding them does not ensure that the properties have similar features or market conditions, making them less reliable for accurate valuation. Hence, focusing on similar specifications, recent sales, and a close location synergistically supports the accuracy of the appraisal process.