The paper 'Advantages for a Vendor of Sale by Auction' is a wonderful example of a Management Assignment. Freehold title means that as the owner of a property you ownership rights of a building as well as the land in which the building sits. As a result as the owner, it is your name that appears on the land registry form as a ‘ freeholder’ thus owning the title deed. Leasehold, on the other hand, means that one acquires ownership of a property by renting from a freeholder. For instance, most people rent homes from landlords for a period of time and may pay on a weekly, monthly, or annual basis.
Therefore a leaseholder normally acquires a contract with the freeholder. Part C Item 1 1.1 Andrew should go with Ann Wells the Officer Effective Control of ABC Pty Ltd. This is important in order for them to be able to appraise the property on behalf of the agency and provide reliable information for listing purposes. 1.2 Five Topics to be discussed while meeting with the vendor Topic Person responsible Requiring effective communication strategies (yes/no) The method of sale Salesperson yes The authority period OIEC yes The commission negotiations Agency representative yes Marketing plan Salesperson yes Terms and conditions (amendments, deletion) OIEC yes Item 2 Five types of advertising Types of advertising Target market Billboards and signs Neighbors, passersby, drivers Use of internet tools such as social media People outside and within the community who are unable to see the billboards Magazines Homeowners, real estate investors Television and radio commercials All groups of people capable of buying a home, real estate investors Auction announcement Potential buyers and investors TASK 1 Item3 Section 32 vendor’ s statement is a detailed statement that a vendor is required to prepare and present it to a buyer before the contract of sale is signed.
The information required to be included in this statement include; 1) contracts showing that the vendor has financial rights over the property example mortgage.
2) a declaration that explains in the property is prone to any forms of fire or if it is a bushfire zone. 3) a written agreement that allows or warns the owner of the property to carry out some practices. 4) zoning- this explains to the purchaser how the council in that area allows the land to be used. 5) a declarative right that may be allowing the owner to use another person’ s land for instance for drainage purposes. Without a detailed s32 vendor’ s statement in this scenario, the purchaser of victor’ s property may be buying the property which may be overvalued and may purchase the property on false accounts. Victor should talk to his lawyer who will assist him in preparing the s32 vendor’ s statement and therefore presenting it to Andrew who will make it available for potential buyers. Item4 4.1 name the section and the act that applies to the circumstances that Amelia may be getting involved in Section 52 of the Estate Agency Act 1980 4.2 If Amelia’ s brother wishes to purchase the property he may consider taking the following steps: 1.
Inquire about the asking price of the property and the payment options. 2. Go view and inspect the property with Andrew 3. Contact his lawyer and seek his or her advice about the property as well as explain some terms. 4. Avail himself for the bidding process. 5. If he manages to buy the property his lawyer and that of the vendor should be available during the signing of the contract. 4.3 Can Green Hill Real Estate claim commission of the property if Amelia’ s brother purchases the property?
Yes Item 5 5.1 Name the section and the act that applies to the circumstances that Andrew may be getting involved in section 37 estate agents acts 1980