Which of the following is most likely to be a factor in an appraisal for an industrial property?

• A. Access to raw materials used in the region
• B. Proximity to museums and historical sites
• C. Amount of advertising and publicity
• D. Price trend for detached homes in nearby neighborhoods

When discussing economic considerations, interest rates, government policies, and infrastructure specific to industrial properties, why are investors attracted to industrial properties?

• A. Industrial properties have a number of large, credit-worthy tenants and long-term leases.
• B. Higher mortgage interest rates will provide a better return on investment.
• C. Industrial properties have a lower capital gains tax at disposition.
• D. Good transportation and distribution corridors do not matter to industrial investors and their tenants.

An agreement of purchase and sale for an industrial building is accepted conditional on financing with the expiry date of May 14. On May 11, the bank informs the buyer the mortgage cannot be approved until May
17. The salesperson for the buyer then prepares an amendment to the agreement of purchase and sale for the extension of the condition. Which of the following is NOT correct?

• A. The buyer can still waive the condition before the expiry date if the seller refuses to sign the amendment, provided there is a waiver provision in the condition.
• B. The buyer can use the same amendment to ask for a change of the closing date.
• C. The salesperson should prepare the amendment with midnight, May 17 as the irrevocable time.
• D. To play it safe, the salesperson should amend the condition with May 18 as the expiry date.

A buyer client has hired a commercial appraiser to assess the market value of a fully tenanted commercial complex. The complex is mixed-use with retail on the main level and offices on the second and third levels. It is an older property with unique characteristics. Which of the following is NOT a correct statement regarding how the appraiser will determine the value of the property?

• A. The appraiser will research similar buildings, as commercial properties are usually bought and sold on a dollar value per square foot.
• B. The appraiser will assess how convenient it is to access the building and whether customers would be required to walk a significant distance within the mixed-use commercial complex to find a retailer.
• C. The appraiser will research the layout of other types of commercial buildings to establish the utility of the mixed-use building.
• D. The appraiser will assess the layout of the complex, as it will directly establish the utility of the mixed- use building.

A salesperson is representing a tenant client who is opening a new pet food store in a local strip plaza. The salesperson meets with their tenant to discuss display signage and review the guidelines in their commercial lease agreement. Which statement is NOT accurate regarding the commercial lease agreement's signage clause?

• A. The tenant's signage, from approvals to installation and ongoing maintenance, shall be at thetenant's own expense.
• B. The tenant's signage is considered a trade fixture and shall remain the tenant's property.
• C. The tenant's signage must be approved by the municipality and the landlord, and all associated costs shall be paid by the landlord.
• D. The tenant's signage shall be immediately removed at the end of their lease term(s) at the tenant's expense.