Humber/Ontario Real Estate Course 3 Exam Practice

Regarding rural property subdivisons, what must happen first before sale agreements?

1. Property must be appraised for market value

2. All tax assessments should be cleared

3. Planning consent must be obtained

4. Permanent survey be conducted

5. Documentation of structures on the property

6. Community council assessment be completed

The correct answer is: Planning consent must be obtained

In the context of rural property subdivisions, obtaining planning consent is essential before any sale agreements can be finalized. Planning consent is a formal approval from the local government or relevant planning authority that allows a property to be subdivided. This process ensures that the proposed subdivision complies with zoning bylaws, land use policies, and other regulatory requirements. It serves to protect the interests of the community and the environment by ensuring that subdivisions are appropriately planned and developed. Once planning consent is secured, it can lead to a clearer path for creating sale agreements, as it provides assurance that the property can be legally subdivided and developed as intended. Other activities such as appraisals, tax assessments, and surveys might be important, but they can typically follow after planning consent has been granted. This prioritization underscores the importance of adhering to local planning regulations before engaging in the sale process for subdivided rural properties.