D11 Real Estate Agency Practice

As verbatim from “Rules and Guidelines to Part I & II Estate Agent Examination (2nd Edition – 1 Jan, 2005)”.

Sales and Purchase of land in Malaysia. The contract, including the pre-contract stage. Conditions and particulars of sale. Deposit. The sale and purchase agreement: Requisition as to title. Past contract to registration. Lodging a private caveat completion. Memorandum of transfer. Registration. Role of Solicitors.

Key contract clauses that affect the vendor. Key contract clauses that affect the purchaser. How to handle earnest money deposits. Do’s and Don’s for negotiating successfully with the seller. How to handle the counter offer. What forms a bidding contract. How to avoid potential problems before the closing. Compliance with terms and conditions of contract and follow through.

Advance payments. Recovery of deposits. Part payments, other payments. Earnest money. Booking fee. Installment and progressive payment.

Options. Meaning of options. Nature of option. Exercise and option. Caveat interest of an option holder, leasing. Types of leases. Rent and rent reviews.

Property insurance. Types of coverage. Property damage. Time limit. Owners and lenders policies. Demolition losses. Policy cancellation. Home buyers’ insurance.

Property financing. Types of mortgage financing used in real estate. Main financing sources.

Investment properties. Types of investment properties (office, shopping complexes, condominium/apartments etc). How to determine and verify income and expenses.

Understanding of occupancy ratio and solving vacancy problems. How to find quality tenants.