Material facts and information – CPD courses

Material facts and information – CPD courses

The CEPCC specifies the duties of estate agents and salespersons with regard to safeguarding confidential information. Estate agents and salespersons shall ensure that their clients’ confidential information is safeguarded when responding to questions from other parties. CPD courses.

Before commencing to market the property, the salesperson must ascertain the material facts and important information of the property with the vendors. This is to ensure that the correct factual information is communicated to prospective purchasers to aid in their decision making process. CPD courses.

The following items (considered material facts and important information) shall be confirmed or disclosed in writing by an estate agent or salesperson marketing a property to prospective purchasers:

a) The approved use of the property;

b) Land Area or Strata Floor Area – Land area shall be determined through the Certificate of Title (CT) or Certified Plans (where survey has been completed) for land-titled properties. Alternatively, if the above is not available, the information could be obtained from the developer or OTP/S&P Agreement which the seller had signed with the developer or his vendor. CPD courses.

For strata titled properties, the strata floor area shall be determined through the following means and the void area (if any) in the unit shall be disclosed to the prospective purchaser:
i) For properties where the strata title plan has been approved by the Chief Surveyor – Subsidiary Strata Certificate of Title (SSCT) or strata certified plan. This plan would contain the floor area, void area (if any) and total area of each storey of the strata lot, as well as the total area of the strata lot;
ii) For properties where the strata title plan has yet to be approved – schedule of strata units or the form provided by developers to buyers under the Housing Developers Rules; or
iii) If the above is not available, the OTP or S&P Agreement;

c) Tenure – for leasehold properties, it is important to confirm the start date of the lease so as to determine the remaining unexpired lease term for the property that is being sold or transacted. CPD courses.

Source: Professional Service Manual (PSM).

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