JH -Purchase and Sale

Question 1

What is included in the RICS Professional Statement Real Estate
Agency and Brokerage, 3rd Edition- August 2016.

Answer 1

Ethics i.e transparency with fees and no conflicts
Securing instructions i.e checking identity of buyer and seller
Selling a property i.e marketing brochure must be sent to client
keep the client informed etc

Question 2

What did you put in the data room?L2- Development Land, Coventry

Answer 2

L2- Development Land, Coventry
- Title Register and Plan
- Compliant plan with north star, scale, demise outlined red, full address

Question 3

What went onto your marketing brochure?

Answer 3

Address
Location/demographics
Description/size
Tenure/tenancies
Map
VAT applicable
Agent contact details
Disclaimer

Question 4

Why did you require client sign-off for the marketing brochure?

Answer 4

Under both CPR 2008 and MRA 1967

Question 5

What type of agency were you?

Answer 5

Sole agents on both occasions

Question 6

When was the client fee payable?

Answer 6

Upon exchange of contracts

Question 7

Did you have any other clause in your TOE?

Answer 7

Read able and willing clause- in the case of if the client withdrew we would still have a fee.

Question 8

What was included in the HOTS?

Question 9

What are the legally binding parts of a HOT

Answer 9

Price and Confidentiality