To learn before mock Flashcards
Describe stubble to stubble cultivations
power harrow
drill
roll
apply sprays and ferts
combine
bale straw
Why are auctions used for derelict properties? (remove from sub before real exam)
faster sale to reduce costs and liabilities of vacant property (council tax etc.)
may not be mortgageable (if no bathroom/kitchen) so appeal to cash buyers who can complete quickly
What is the definition of marriage value?
an additional element of value created by the combination of two or more assets where the combined value is more than the sum of the separate values.
What is a contract farming agreement?
an agreement between a contractor and a farmer where the farmer directs the contractor to undertake practical operations based on the farmers guidelines.
Describe a typical crop rotation in your area of practice?
wheat barley beans wheat
What is unconscious bias?
subconscious opinion towards groups of people made due to social stereotypes
What needs to be done when setting up a new firm?
Inform RICS
PI cover
Locum agreement if sole trader
client money handling procedure
What is the definition of market value?
the estimated amount for which a property should exchange between a willing buyer and a willing seller at an arms length transaction
Headings of marketing recommendations report (long)
Introduction
Property overview
Pre-sale considerations
Method of sale
Pricing strategy
The way forward
Headings of valuation report?
Preamble
Property overview
Legal and title matters
Planning and statutory matters
Environmental matters
Valuation itself
Disclaimer
Appendices
Headings of marketing appraisal (short)
Introduction
Property description
Overview of the property market
Value
Case study - what proof of funds did you request?
Copy of bank statement to check they had adequate funds
Describe stubble to stubble operations.
Power harrow
drill
roll
ferts and sprays
combine
bale the straw
What is the RICS purpose?
Global standards body which regulates the profession and advances the usefulness of the profession for the public.
What is the RICS aim?
To promote and enforce the highest possible professional qualifications and standards in the development and management of land, real estate, construction and infrastructure.
