What is the best bid for a freehold sale?
— 18 Nov 2020 17:40:49 by James Haywood
A best bid scenario is often requested when selling a freehold property, depending on the level of interest. It allows for a fixed period of marketing, with interested parties invited to put forward their best and final offer, subject to contract. (read more...)
What is a Flying Freehold?
— 29 Oct 2020 09:52:08 by Jack Peacock
Unsurprisingly, Flying Freeholds are not properties with wings, but instead arise where a freehold overhangs or underlies another freehold. (read more...)
What is the RICS Red Book?
— 29 Oct 2020 09:50:21 by Jack Peacock
Chartered Surveyors and Registered Valuers will often refer to the Red Book. The Red Book is quite literally, a red book, hence the name given to the RICS Valuation – Global Standards, which governs the majority of work undertaken by Valuers. (read more...)
How do you calculate a rental figure for commercial retail space?
— 29 Oct 2020 09:49:37 by James Haywood
The standard method used for correctly working out a value for a shop is called, “Zoning”. The shop is divided into a number of zones, each one a depth of 20 feet. (read more...)
What are Heads of Terms?
— 29 Oct 2020 09:46:27 by Jack Peacock
The initial agreement for a letting or sale between parties is usually set out in ‘Heads of Terms’. Heads of Terms are the main terms which the parties have mutually agreed to, before entering into a legally binding contract. (read more...)
