Article Abstract:
Under the 1991 UK Property Misdescriptions Act an estate agency found itself threatened with legal action by a Trading Standards officer if they failed to pay 700 pounds sterling to a buyer, for what they considered was a small error in their literature. The officer pointed out some people were purposely looking for errors in estate agents literature with the intention of threatening them with prosecution if they failed to pay them a sum of money. The Conservative government brought in the Act during 1993, in order to safeguard the public from disreputable estate agents.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
Owner representative brokers for office space should develop long-term strategies that will improve the value of the leased property. Office market improvements have changed the goals and role of owner rep brokers. Brokers should evaluate the parts of a real estate based on a business plan that is aimed at enhancing the valuation of the property. The financial performance of a leased building should be evaluated to determine if the lease is adequate for operating expenses, debt service and real estate taxes.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
Changes in real estate appraisal remain a staple in the market. However, appraisal techniques remain the same. Presently, there are various possibilities that can be used by appraisers to estimate market value. These include the geographic information system, automated valuation model, savings and loans crisis experience and the proliferation of the computer industry. The greatest challenge for the appraiser comes from the lenders who are the very source that require a professional appraisal themselves.
User Contributions:
Comment about this article or add new information about this topic: