Filling in detail- Property Practice Questions Flashcards
(11 cards)
General Client Details
- Could I take some details from you please?
- Could I take your full name?
- Could you please confirm your email address for me?
- Could I take the name of the company you work for/own?
- Could I take the address of the company you work for/own?
- Could I confirm your mobile number?
- Could I confirm your date of birth?
Common property questions (6)
Property Qs
Could you tell me a bit more about the nature of the property?
What’s the address of the property?
What buildings does the property constitute?
What is the main use of the property?
Can I just check that the property is currently insured and do you know what kind of cover is in place?
Do you know if this leasehold interest is registered at land registry?
Common Qs about tenant business + reasons for wanting a the commercial property
Tenant Qs
- Could you tell me a bit more about the nature of your business?
- Was there a specific reason why you chose this property to carry out your commercial activities when you entered into the lease?
Common qs to ask about a tenancy (8)
Current Tenancy
- Could you tell me a bit more about your current tenancy agreement?
- Who is the landlord under the lease?
- When did your tenancy agreement begin? + When is your lease supposed to come to an end?
- How much is the annual rent on the property and when is it paid?
- When you first entered into the tenancy agreement were you asked to provide a rent deposit as security against potential breaches of your tenant obligations under the lease?
- Are you required to carry out any repair obligations within the property?
- Are you the original tenant under the lease, or has the lease been assigned to you?
- Can you confirm if your lease is protected under the Landlord and Tenant Act 1954, meaning you have a right to renew it at the end of the term, or was that protection excluded when the lease was granted?
Assignment and Underletting Qs
Assigment:
Did the landlord give consent to the assignment?
Was the assignment properly documented and registered?
Have you entered into an authorised guarantee agreement (AGA)?
Subletting:
Is the property currently subject to any subleases or underlet in whole or in part?
Common qs to ask about tenant’s relationship with landlord (4)
Relationship with Landlord
Could you tell me a bit more about your relationship with your current landlord?
Throughout the tenancy, have you missed or been late on any rent payments?
Has the landlord asked you to carry out any repairs to the property?
* And if so have you carried out these repairs)?
Have you brought in workers to inspect the property to make sure the equipment within the property is safe/complies with industry standards?
Has your landlord served written notice on you to carry out repairs?
Common q to ask landlord regarding what their aims are regarding the tenancy agreement?
Landlord:
Just to help me understand your position better, are you hoping to continue the tenancy arrangement with the tenant or would you like to explore ending the lease altogether?
Common prospective tenant qs
Could you tell me a bit more about the prospective tenant and their business operations?
How long have they been in business?
Do you have any details regarding the prospective tenant’s financial health?
Common property qs concerning the residential conveyancing process Pt1
- General Questions- address, seller/buyer, purchase price
- Financing
- How will the property be held
General Questions
- What’s the address of the property?
- Can you provide me with some details about the seller/buyer?
- How many people live in the property?
- Are you married?
- What is the purchase price for the sale?
Financing
- Will you be purchasing the property out right with cash, will you be taking out a mortgage or a combination of the two?
How the property is/will be held?
- How do you wish to hold the property? Joint tenants or Tenants in Common
- Are you married?
Common property qs concerning the residential conveyancing process Pt2
* Physical defects/property damage
* Searches and Enquiries
* Property Information- adult occupiers/interests in the property, easements/restricitive covenants/ongoing disputes?
* Bankruptcy
Physical defects/property damage
When was the property built/how old is the property?
Have you viewed the property previously?
- Did you notice any damages or defects when you viewed the property?
Has the property been subject to any building works/renovations?
- Have you been made aware by the seller of any restrictions with regards to planning permissions?
- Have you been made aware by the seller that the property is subject to any planning enforcement notices?
Searches and enquiries?
Is the property near to any rivers/canals?
Is the property close to any open spaces/common spaces or churches?
Is the property situated near to any mines?
Is the property situated near to any privately owned verges/highways?
Property Information
Are there any other adult occupiers who live in the property?
Is there anyone who may have a potential interest in the property?
Is the property benefited/burdened by any easements or restrictive covenants?
Is the property subject to any ongoing disputes?
Bankruptcy
Are you currently subject to any bankruptcy proceedings?
Have you entered into IVA or restructuring agreements with creditors?
Questions to ask if the property has been damaged by a catastrophic event e.g., (fire)? (6)
- Could you tell me a bit more about [insert details of the catastrophic event e.g., a fire]?
- Do you have any idea about what caused the fire/catastrophe?
- Could you tell me a little bit more about the property and what aspects of the property were damaged?
- Do you know the details of your insurance policy?
- Was the [catalyst behind the catastrophic event] caused by something your company did/didn’t do?
- What would you say are you main concerns with regards to the fire damage/catastrophe?
