Complete set of DISTINCTION notes, preparatory tasks, workshop tasks and other exam notes for the Real Estate core module for Uni of Law (January 2020)
Look at the client’s objective -> they are an investment firm who buy property, develop it and
sell it
o Therefore, speed is of utmost importance so they want a quick transaction
1) Any issues arising out of these documents which you will need to follow up; and
Is there a right of way? What does the grey hatching mean (on the land registry plan)?
o Need to ask the seller
o Why does it abruptly end on the right next to No.40
o Is that something you can carry on doing legally?
o What is Blake’s Alley? Is it a car park?
What is that alley way?
What are the adjoining properties? Is there a number 30?
o Allows you to determine right of way as the land registry plan abruptly ends
Do number 32 and 40 have right of access?
Car parks? Can see a car on the picture on Fletton Street – need more information
o Who are the seller’s solicitors? -> Need them to answer the questions above
Are the neighbouring properties for residential or commercial?
o Need to check that we have the relevant planning permission
o Client mainly sells as offices but we need to check this
o Need to make sure we have planning permission – this may take 3 months and the client
wants everything done quickly.
Client will want vacant possession.
o Do not want any tenancies – seller can confirm this?
Building is from the 70’s
o Asbestos – was used in the 60s/70s as it was cheap and insulated but it is now outlawed
o Physical state of it – we want to refurb but need to know about the state to determine
the scale of the refurbishment.
Stamp Duty?
Taxes?
Deposit of 10%
o They don’t need to pay a pre-deposit to show they are serious.
No synchronisation – see notes -> not a chain of transactions.
Energy Performance Certificate – need a minimum rating of E to let the offices out -> have to get
it at the very beginning of the transaction.
Need surveyors to investigate these things fully.
VAT:
E.G. £100,000 at 20% VAT
, RE – WS1 – Workshop Notes
For commercial properties
o Older properties (older than 3 years)
65% of old properties the owner opted to tax VAT
o It follows the owner – it’s their choice
Effectively to offset any refurbishments and repairs cost they incurred in order to sell the
property.
If registered tax…
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Zawar. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £2.99. You're not tied to anything after your purchase.
