Checklist for property

Question 1

If a client comes to you stating that they intend to sell their property, what should you ask?

Answer 1

1. Client contact details
2. If they have found a buyer (contact details of buyer, sol, estate agent)
3. Address of the property they are selling
4. The title to the property
5. Who owns the property
6. If they have a copy of the title to the property or any other relevant documents?
7. How much they intend to sell the property for
8. Is the property residential or commercial
9. Do they have a valid energy performance certificate
10. If the property address is different to their home address, check if they have ever lived in the property
11. If they have a mortgage on the property

Question 2

What should you ask if your client comes to you wanting to sell or assign their lease?

Answer 2

1. Client contact details
2. details of buyer (including sol, estate agent etc)
3. If they have a copy of the lease
4. If the lease requires a license to assign from the landlord

Question 3

What are the next steps for a party wishes to sell their property?

Answer 3

1. Send a copy of the title
2. Obtain an energy performance certificate if necessary
3. Fill out a contents and fittings form, a property information form and send this to the sol
4. sol will: investigate the title, obtain an indicative redemption figure from mortgage lender, draft contract and amend any defects
5. Send this documentation to the buyer’s sol

Question 4

What are the next steps if a tenant wants to assign a lease?

Answer 4

1. Obtain a license to assign from landlord if necessary
2. Send a copy of lease
3. Of landlord title
4. Copy of 3 years accounts from management company
5. copy of insurance for whole building
6. details of sinking fund
7. Lease information form
8. Contents and fittings form
9. Energy performance certificate