Purchase and sale - lvl 1 Flashcards
(32 cards)
Tell me about the four methods of sale.
Tell me about an advantage and disadvantage of a sale by private treaty/formal tender/informal tender/auction.
Tell me about the legal processes to complete a purchase/sale.
Tell me about your understanding of your legislation relevant to your agency practice.
Tell me about your understanding of the Estate Agents Act 1979.
How does Section 18 relate to your agency practice?
What are the four agency bases?
What are the differences between the four agency bases?
Where are these defined?
What is a ready, willing and able purchaser?
How does Section 21 relate to your agency practice?
What 3 things do you need to make a contract?
Can a verbal contract be legally binding?
What is capacity in relation to contract law?
Does the sale of land have to be in writing and what Act defines this point?
Tell me about key points of the Consumer Protection / Business Protection Regulations.
What is an average consumer/material information?
What are considered to be unfair practices under this legislation?
How does the Misrepresentation Act 1967 relate to your agency practice?
Tell me three key issues raised in the RICS Real Estate Agency and Brokerage Standards / RICS Commercial Real Estate Agency (Purple Book).
Tell me about a factor which drives property markets.
Tell me about supply and demand in a property market you are familiar with.
Tell me about government incentives which impact demand in relation to your purchase and sale work.
What is SDLT?
