CPPREP4501
Prepare to complete the sales process - off the plan properties


Application

This unit specifies the skills and knowledge required to collate information to support sales of off the plan properties in real estate.

The unit applies to industry professionals acting on behalf of principals in real estate.

State or territory licensing requirements may apply to this unit.


Elements and Performance Criteria

Elements describe the essential outcomes.

Performance criteria describe what needs to be done to demonstrate achievement of the element.

1. Review information from developer.

1.1 Determine and outline details and any limitations to property title.

1.2 Confirm terms of sale, development schedule and completion date.

1.3 Determine building construction characteristics and level of input permitted for buyers on finishes and appliances.

2. Evaluate information from developer about negotiable areas.

2.1 Confirm price range for negotiation and minimum acceptable deposit.

2.2 Confirm schedule and conditions for progress payments.

2.3 Identify negotiable areas in contract conditions, including penalty clauses.

3. Establish and document contingency provisions.

3.1 Establish and document provisions for when completed building does not meet specifications.

3.2 Establish and document provisions for when building construction does not meet scheduled timeframes.

3.3 Establish and document provisions for sales that do not settle.

3.4 Access and interpret relevant legislation for off the plan sales.

4. Prepare sale information.

4.1 Collate information about property to support sale settlement.

4.2 Prepare an information pack to facilitate property sale.

Foundation Skills

Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.


Sectors

Real estate