What should the broker inform the client about besides the purchase price?

Prepare for the OACIQ Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam with our comprehensive quiz!

The correct choice emphasizes the importance of brokers providing clients with comprehensive information regarding the real costs of purchasing a property. This goes beyond just the purchase price, which can often be misleading without context.

Real costs include expenses such as closing costs, property taxes, maintenance and repair expenditures, and other ongoing costs associated with home ownership. Understanding these factors is essential for clients to make informed decisions regarding their investments.

While other options like return on investment calculations, future property value predictions, and estimated rental income potential might provide useful insights, they do not capture the immediate, concrete financial implications of a property purchase as effectively as educating clients on the real costs. Ensuring clients are aware of these costs can help them avoid unpleasant surprises after the acquisition and foster a more transparent and trustworthy relationship between the broker and the client.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy