ABSTRACT
Following on from the last three chapters on real estate law this chapter now considers some of the most common types of real estate transactions that take place.
An overview of the duties of an agent, including statutes governing them, will be provided. This will be followed by an analysis of the main bases of agency. The importance of Terms of Engagement and client expectations and instructions will be explored in relation to disposals and acquisitions, both freehold and leasehold. The basics of marketing and negotiation will also be considered.
The approach to recording details of transactions in the form of Heads of Terms will be covered together with the identification and analysis of some of the key lease terms, and freehold provisions, that might need to be negotiated.
Finally, other common real estate transactions relating to leasehold properties such as lease renewals, rent reviews, and assignments will be considered.
