It was a lower-cost home (based on the geographical region) and was a great buy to get a taste of real estate processes.

I've asked to speak to their accounting office or CFO for explanation, and I am still waiting. 

Geographically, the GTA alone is home to 9 out of the 10 most expensive spots for those looking to rent.

@Fay ChenThanks, again, for the helpful definitions and explanation.

Or do I owe them an explanation now?

I would agree with the agent about narrowing down your geographic area, especially for your first deal. 

Certainly not without a bit more thought and explanation.

It's a potential explanation if ever audited. 

Took 5 hrs before them calling the sellers agent and found it already had an accepted offer and then when I asked to do a secondary offer I was told it wasn’t worth it without any explanation...

@Jaysen Medhurst Thanks for that clear explanation!