course content
20/05: 16:00 – 18:00
22/05: 16:00 – 18:00
24/05: 16:00 – 18:00
27/05: 16:00 – 18:00
29/05: 16:00 – 18:00
31/05: 16:00 – 18:00
03/06: 16:00 – 18:00
Content:
UNIT 1: Leasing property
· Ice breaker
· What is the difference between leasing and licensing?
· When should a lease be registered?
· Practical tips regarding what terms should be included in a lease agreement
· How best to protect your client from scrupulous tenants.
· Creating your own checklist for tenancies of clients’ properties.
· When is the Law 1983 (N. 23/1983) engaged– statutory tenancies?
· How to protect your client from the engagement of protections afforded to statutory tenants.
· Advising your client on the practical steps when they are buying a property containing a statutory tenant.
UNIT 2: The Legal Relationship: Agency
· Promotion of Real estate agents according to the law and possible offences.
· Understanding the role of the law of agency to the job of a real estate agent.
· The different types of agencies –Designated Agency and brokerage agency
· The Cyprus regulations on real estateagent licensing – what to watch out for.
· The Agency services are written agreements– practical tips on drafting this agreement.
· What should be included in the agency services agreement?
· Agency by way of an implied agreement?
· Discussion agency and representation with a consumer.
· How is an agency relationship created? –orally or in writing.
· How is an agency relationship terminated?
· Risks to be aware of after termination
· The fiduciary obligation of loyalty (using case scenarios)
· Practical steps to avoid liability arising from the duty of confidentiality (using case scenarios)
· Practical steps
UNIT 3: Acting for the seller
· The listing contract – what role does it play
· What should the listing contract include?
· Discussing comparable listings and sales with the seller
· Agreeing to remuneration according to the law – Practical considerations to take into account.
· Best practice: discussing the options for dealing with offers
· The steps you should take before listing a property – listing checklist.
· Showing a property – your agency responsibilities
· How to effectively manage offers on the listed property.
· Presenting an offer and negotiating a counteroffer on behalf of the seller.
· Avoiding conflicts of interest between multiple clients.
UNIT 4: Acting for the Buyer
· Who can act on behalf of a buyer?
· Establishing buyer requirements
· Practical consideration for agreements with buyers (confirming buyer engagement of agency).
· Sourcing properties that meet the buyer’s requirements
· Practical tips on negotiating the purchase of property on behalf of the buyer.
· Completing property investigation on a potential purchase of land.
· The acquisition of property in Cyprus by 3RD party nationals – practical steps you must take.
· Monitoring the completion of the sale.
UNIT 5: The Contract of Sale
· The purpose of the contract of sale.
· Understanding the terms of the standard contract of sale.
· Your role as an agent in the drafting of a contract of sale
· Practical steps to consider and or complete prior to the contract of sale.
· The essentials of a binding contract
· The differences between void, voidable and unenforceable contracts
· Ways in which the contract can be terminated
· The technical requirements of a contract of sale.
· How to waive a condition precedent from a contract of sale.
· Assignment of the contract of sale.
· Best practice – retention of documentation and records that should be kept.
UNIT 6: Sale of property under auction
· Important considerations in the sale of property under auction
· The legal framework to consider
· How does the process of selling mortgaged property start?
· The real estate agent’s role in buying property under an auction process.
· What are the main considerations that the real estate agent must consider in deciding if the property is appropriate for their client
· Practical implications for the real estate agent concerning their liability and representations made during the procedure for buying auctioned property.
· Advising clients as to the valuation of the property under auction
This course is suitable for:
- Lawyers and legal professionals
- Real estate agents
- Assistant real estate agents