Sales of completed properties

Question 1

How long is OTP effective?

Answer 1

Within 14 days from Date of OTP

Question 2

What transaction monies can agent collect?

Answer 2

Leasing of private properties

Question 3

What are the 3 types of misrepresentaiton

Answer 3

1) Fraudulent - knowingly lie
2) Negligent - telling facts without checking
3) Innocent- did reasonable work to substantiate facts but was wrong

Question 4

What are the remedies for misrepresenation?

Answer 4

1) Rescind and claim for damages only for FRADULENT MISREP

2) EITHER rescind OR claim for damage for both Negligent and Innocent

Question 5

At what stage is considered “subject to contract”?

Answer 5

Negotiation phase before actual contract signed

Question 6

What account must payment be made, should it be to the vendor’s solicitor account?

Answer 6

CVY