Purchase and Sale Flashcards
You say you have conducted a strategic review of all your clients residential properties where you consider the likelihood to sell in the current market – what may impact this?
Client decision-making, location of the property, investment required, proximity to possible or future development, land available to sell alongside (make site more attractive), current market (cost of mortgages may delay sales).
What was the outcome of your recommendations to your client and why did you select the three properties that you did?
Cost of improvements, proximity to holding boundary, attractiveness of property based on current similar sales.
You say you have provided advice regarding a derelict property for a repairing tenancy – what are the key characteristics of this type of tenancy?
Low rent for specified period, schedule of works to be completed by each party, outline plan for the repairs required and specified standard such as EPC C, long duration.
What was included in the costing spreadsheet and how did you ensure this was as accurate as possible?
Obtaining accurate quotes from contractors, utilising an architect and quantity surveyor to estimate materials versus labour cost split, checking calculations with superior.
