...Gulf Real Estate Properties | QUMT 6303 Case Study | | There’s a real estate firm named Gulf Real Estate Properties, Inc. that is in the southwestern part of Florida. This company promotes itself as "expert in the real estate market." They evaluate sales of condos through data collection in relating to the location, list price, sale price, and the number of days it’s on the market prior to being sold. Gulf View classification is a result of a condo being located on the Gulf of Mexico. A No Gulf View classification is due to being located on the bay or a golf course that is not actually on the Gulf. The sample data collected is from the Multiple Listing Service that’s located in Naples, Fl. It contained the sales data of 40 Gulf View condos and 18 No Gulf View condos. For the first two parts of the managerial report, the use of appropriate descriptive statistics is needed to summarize each of the three variables for the 40 Gulf View condos and the same goes for the 18 No Gulf View condos. Based on the data, Gulf View condominiums have a higher average listing price at $474,007.50 than No Gulf View condominiums at $212,805.56. GV condominiums also have a higher median listing price at $437,000 than the NGV condominiums at $212,500. In regards to sale price, the GV are higher in average sales price at $454,222.50 when compared to NGV at $203,188.89. GVs are also higher in median sales price at $417,500 in comparison to NGVs at $203,500. The data indicates...
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...Business Law Week 3 Lecture I. Types of Property a. What is real property? Not moveable b. What is personal property? Property is classified according to whether or not it can be moved. Moveable property II. Personal Property c. What are the two different types of personal property: i. Tangible Personal Property is moveable property that can be seen touched, and possessed 1. Examples: Clothing, food, silverware, musical instruments, desks ii. Intangible Personal Property is moveable property that consists of evidences of ownership of rights or values. 2. Examples: Certs. of deposit, contracts, copyrights, checks, gold coins d. What are the 3 options a person has to protect their creation: iii. The law protects the right to use property as well as the right to own it iv. The law not only protects the right to own property but also the right to use it v. Property includes not only physical things but also such things as bank deposits, notes, and bonds that give the right to acquire physical property or to use such property e. What are bailments? Legal relationship by which possession of personal property is delivered by one party (a bailor) to another party (a bailee) and the identical property is to be returned, delivered to a third party, sold, or accounted for in the manner agreed upon by the parties f. What are examples of bailments? Bob holds...
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...Introduction The conclusion of the real estate transaction is the closing, the culmination of many efforts—finding clients, negotiating offers, solving problems, coordinating inspections, and much more. At the closing, title to the real estate is transferred in exchange for payment of the purchase price. It's also a complicated time because until closing preparations begin, the licensee's relationship is primarily with the buyer or the seller. During the closing period, new players come on the scene: appraisers, inspectors, loan officers, insurance agents, and lawyers. Negotiations continue, sometimes right up until the property is finally transferred. A thorough knowledge of the process is the best defense against the risk of a transaction failing. Key Terms • accrued items • closing • closing statement • computerized loan origination (CLO) • controlled business arrangement (CBA) • credit • debit • escrow accounts • escrow closing • Good Faith Estimate (GFE) • impound accounts • Mortgage Disclosure Improvement Act (MDIA) • prepaid items • prorations • Real Estate Settlement Procedures Act (RESPA) • survey • Uniform Settlement Statement (HUD-1) Learning Objective After successfully completing this topic, you will be able to describe the process involved and the issues that may concern both the buyer and the seller to comply with the requirements of both parties and allow a conveyance of...
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...Computational Methods Real Estate Investment Industry: (project no) Authors :( 3:3:3) Application of Computational Methods Real Estate Investment Industry Abstract The paper studies the computation methods applied in real estate brokerage industry, Real estate development is a commercial activity involving taking the take the future of an area and trying to shape it needs of future generations and the ambition to make it successful merchandise in the real estate marketplace and thus it is a risky market venture. The paper, therefore, seeks to link the use explicitly of mathematical computation methods used in real estate to how they help manage sales of recently constructed assets. The cost of construction is estimated by the internal area info included in the contract records and from available gross construction cost rates. The most commonly adopted approaches are the binomial models, Black and Scholes and Monte Carol stimulation form the basis of the paper. The motivation for this project is set out more clearly and the computation study methods used in the real estate brokerage industry. Keywords Real estate, Monte Carlo simulations, interpolation, forecasting, Binomial models and Black and Scholes models Introduction Real estate business is the production plant of our cities that converts unproductive land to town space used for various activities by different people. Real estate development shapes the...
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...TRAINING REPORT ON “Growth of Real Estate Sector with in 5years” A case of Corporate Real Estate Solutions Submitted to MAHARSHI DAYANAD UNIVERSITY, ROHTAK In partial fulfillment of the requirements For the award of the degree of MASTER OF BUSINESS ADMINISTRATION (INDUSTRY INTEGRATED) (II SEMESTER) Submitted by: Name: Alok Kumar Upadhayay Regn. No. Roll.No. DAV INSTITUTE OF MANAGEMENT (ELC CODE: 080923013) NH-3, NIT, FARIDABAD. JULY 2011 DECLARATION I hereby declare that the Training Report conducted at Corporate Real Estate Solutions,Delhi. Under the guidance of (Ms. Aakrity) Submitted in Partial fulfillment of the requirements for the Degree of MASTER OF BUSINESS ADMINISTRATION (Industry Integrated) TO MAHARSHI DAYANAND UNIVERSITY, ROHTAK is my original work and the same has not been submitted for the award of any other Degree /diploma /fellowship or other similar titles or prizes. Place: Date: Alok Kumar Upadhayay Regn.No: Roll No. 2 ACKNOWLEDGEMENT First and foremost, I extend my deepest thanks to my mentor and guide Mr. Vishal Srivastava, Director – Corporate Real Estate Solutions, for giving me this opportunity to work in such a prestigious organization as well as for giving me a wonderful thesis. Without his constant guidance and feedback, I would have never been able to complete the training, I did. I am thankful to Ms. Aakrity, whose consistent support and cooperation showed the way towards the successful completion of the thesis...
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...into a contract. First we have the buyer which has certain remedies available to him or her if a seller wrongfully refuses to either give title to the real estate or otherwise defaults on an agreement of sale between the parties, unless there is a provision in the agreement that limits the seller’s remedies. Before buyer can do anything, there must be a non-conforming tender (breach of warranty or other breach of contract, such as late delivery. It’s been asked with buying a house, “what happens when the sales of a house doesn’t work out”? In most cases you can take legal action. If a buyer decides not to go through with the purchase they can retain the down payment and terminate the contract, or sue for breach of contract and bring an action for. But there can only be one remedy at a time. If a remedy fails, you may be able to file another lawsuit for a different reason. This could mean the buyer has breach the contract and can also collect addition damages. But always remember that a sales contract may limit your options. Now if the buyer goes through with the lawsuit they will have to file a “lis pendens” in public records. Basically this notice is your property is involved in a lawsuit and you won’t be able to sell the property and no one will even look at the property. When something like this happen the seller is ready and willing and able to sell the property and the buyer refuses to close on the sale the seller has the right to terminate the contract and keep...
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...Glossary of Commercial Real Estate Terms From the REALTORS® Commercial Alliance 12/2005 -- A Absorption The amount of inventory or units of a specific commercial property type that become occupied during a specified time period (usually a year) in a given market, typically reported as the absorption rate. Accumulated cost recovery Total cost recovery deductions taken throughout the holding period of a property. Active income Income from salary, wages, tips, commissions, and activities in which the taxpayer materially participates. Also see passive income. Add-on factor The ratio of rentable to useable square feet. Also known as the load factor and the rentable-to-useable ratio. Also see efficiency percentage. Formula: Add-on factor =Rentable square feet Useable square feet Add value Fourth stage of four-stage transaction management process pertaining to a transaction manager’s planning, effort, and continual contact with key decision-makers, investors, and users, as well as contact with ancillary professionals. This ongoing process allows for feedback, establishes a network for problem solving, provides a means to offer additional services to the client, and enhances the transaction manager’s preparedness for the next assignment. Adjusted basis The original cost basis of a property plus capital improvements, less total accumulated cost recovery deductions, and partial sales taken during the holding period. ADS See annual debt service. Agglomeration economies Cost...
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...| | |Cand. merc. program | |INTERNATIONAL MARKETING AND MANAGEMENT | | | | | | | | | |The cultural and social influences on the buying behaviour process: the Pirelli RE case study | | | | ...
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...Asset Quality Review and Stress Test: Recent Experiences and Potential Implications for the MENA Region Dubai, 7th May 2014 © Oliver Wyman LON-FSP22401-197 Agenda 1. AQR and stress test: setting a new standard for banking supervision 2. Applying the new methodologies to the prevailing context in MENA region: potential scenarios…. 3. … And implications for MENA Banks 4. Concluding remarks © Oliver Wyman LON-FSP22401-197 1 1 AQR and stress test: setting a new standard for banking supervision Since the start of the Eurozone crisis a number of AQRs and stress tests have been carried out in Europe with relevant impact on the Banks Greece – ’11 Ireland – ‘10 Spain – ‘12 • Economy: ~2% GDP EU • Asset Quality Review • Credit Loss Projections • Loss Absorption Capacity • • • • Capital shortfall ~€24mld Economy: ~12% GDP EU Asset Quality Review Credit Loss Projections Loss Absorption Capacity • • • • Economy: ~2% GDP EU Asset Quality Review Credit Loss Projections Loss Absorption Capacity Capital shortfall ~€50mld Capital shortfall ~€60mld Cyprus – ’12 • • Portugal – ’11 • • • • • Economy: ~2% GDP EU Asset Quality Review Credit Loss Projections Loss Absorption Capacity Capital shortfall ~€7mld • Economy: ~0.2% GDP EU Asset Quality Review Credit Loss Projections Loss Absorption Capacity Capital shortfall ~€6mld Slovenia...
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...Contract of Sale. By the contract of sale one of the contracting parties obligates himself to transfer the ownership of and to deliver a determinate thing and the other to pay therefore a price certain in money or its equivalent. |Contract of Sale |Contract to Sell | |Title over the property passes to the buyer upon delivery unless |Ownership is retained by the seller whether or not there is | |there is a contrary agreement |delivery. Ownership passes to the buyer only upon full payment of| | |the price | |Non-payment of the purchase price is a negative resolutory |The payment in full is a positive suspensive condition, meaning, | |condition, meaning the sale becomes ineffective upon the |if the purchase price is not paid, the obligation to deliver and | |happening of such condition |to transfer ownership on the part of the seller does not become | | |effective | |After delivery of the objective, the seller loses ownership over |Whether there is delivery or not, the seller retains the | |it. Unless, the contract is set aside, he cannot recover...
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...The far-reaching implications of a new revenue model Highlights Management should evaluate existing business practices under the new model, including how product or service offerings are bundled and priced, and begin assessing the need to negotiate revised contract terms. Industry-specific accounting guidance will be eliminated under the new model and “industry practice” will need to be re-evaluated. Estimates that are required to apply the new model will often require the use of greater judgment and may necessitate process or system changes. Companies should begin assessing the impact of the changes and the adequacy of their resources, systems, and processes to address the new requirements. on the future of revenue recognition Revenue, or the “top line,” is one of the most closely-monitored measures in financial statements. However, the accounting rules for revenue can be difficult to decipher. US revenue guidance today is a tangled web of special rules and exceptions created to address unique transactions, industries, and business models. The FASB and IASB are in the process of replacing this labyrinth of revenue guidance with a new global accounting standard that will apply a single set of principles to all revenue transactions, regardless of industry. Their proposed standard, issued in June 2010, received extensive feedback, which the boards have discussed at length during the first half of 2011. Now that they’ve completed their initial redeliberations and decided to...
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...LAW ON SALES OUTLINE [1] Dean Cesar L. Villanueva First Semester, SY 2011-2012 Atty. Alexander C. Dy Atty. Ray Paolo J. Santiago I. The Nature of Sale A. Definition (Art. 1458) Sale is a contract whereby one of the contracting parties [the seller] obligates himself to transfer the ownership[2] and to deliver the possession, of a determinate thing, and the other party [the buyer] to pay therefor a price certain in money or its equivalent. xCruz v. Fernando, 477 SCRA 173 (2005).[3] 1. Elements of Sale Elements of sale: (a) consent or meeting of the minds; (b) determinate subject matter; and (c) price certain in money or its equivalent. xNavarra v. Planters Dev. Bank, 527 SCRA 562 (2007).[4] Sale being a consensual contract, its essential elements must be proven. xVillanueva v. CA, 267 SCRA 89 (1997). Absence of any essential elements negates a sale xDizon v. CA, 302 SCRA 288 (1999),[5] even when earnest money has been paid. xManila Metal Container Corp. v. PNB, 511 SCRA 444 (2006). But once all elements are proven, a sale’s validity is not affected by a previously executed fictitious deed of sale. xPeñalosa v. Santos, 363 SCRA 545 (2001); and the burden is on the other party to prove otherwise. xHeirs of Ernesto Biona v. CA, 362 SCRA 29 (2001). 2. Stages of Contract of Sale ...
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...Taxation Final Pre-board Examination Batch 18 (October 2009) 1. The buyer acquires a real right to the fruits of the thing sold. a. From the time the obligation to deliver the thing arises b. From the perfection of the contract of sale c. From the delivery thereof d. From payment of the price 2. A buyer may sue the seller for breach of warranty against hidden defects of things a. Within 40 days from delivery of the thing sold b. Within 6 months from delivery of the thing sold c. Within 1 year from delivery of the things sold d. Within 4 years from discovery of the fraud 3. D is indebted to C in the amount of P200,000 and delivers to C his diamond ring by way of pledge. If D sells the same diamond ring to T, when will T acquire ownership of the same? a. From the time the sale is perfected between D and T b. From the time T pays the price to D c. From the time C consents to the sale between D and T d. From the time T obtains actual possession of the diamond ring 4. In a partnership, the partners share in the profits a. Equally b. According to capital contribution c. According to the contract d. Justly and equitably 5. This kind of agent merely makes the principal and the third person meet and when they arrive at an agreement or contract becomes entitled to compensation. a. Broker b. Commission agent ...
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...Property yields as tools for valuation and analysis Rosane Hungria-Garcia in collaboration with Hans Lind Björn Karlsson This report has been sponsored by the Real Estate Academy at the Division of Building and Real Estate Economics. Stockholm 2004 ______________________________________________________ Report No. 52 Building & Real Estate Economics Department of Infrastructure KTH Summary This project was started in order to get an overview of conceptual problems, measurement problems, theories of determinants of yields, the use of yields in different contexts and how the actors on the Swedish market looked upon yields. Important issues discussed in the report is the need for: - Conceptual clarity: A number of different yield terms exist on the market and it is very important to be clear about how the specific terms are defined. - Operational clarity: There are measurement problems both concerning rental incomes, operating and maintenance costs and property values. This means that reported yields can be “manipulated” by choosing suitable operationalisations and pushing estimations of uncertain factors in directions that are favourable to the actor in question. - Specify the purpose for which the yield should be used. The most important distinction is between using yields/income returns for valuation purposes and using yields as benchmarks or bubble indicators. In the first case various types of normalization of the net operating income can be rational. In the second...
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...CHAPTER 1: INTRODUCTION CONTRACT OF SALE – One of the contracting parties obligates himself to transfer the ownership of and to deliver a determinate thing, and the other to pay therefor a price certain money or its equivalent. A contract of sale may be absolute or conditional. SALES 1. Contract of sale (absolute) • real obligation – obligation to give • remedies available: a. specific performance b. rescission c. damages 2. Contract to sell (conditional) • personal obligation – obligation to do • remedies available: a. resolution b. damages ESSENTIAL REQUISITES OF A CONTRACT OF SALE 1. consent 2. subject matter 3. price CHARACTERISTICS OF CONTRACT OF SALE: 1. Nominate - law gave it a name 2. Principal - can stand on its own; unlike accessory contract 3. Bilateral - imposes obligation on both parties a. obligation of seller – transfer ownership & deliver b. obligation of buyer – pay for price Consequence: power to rescind is implied in bilateral contracts 4. Onerous – with valuable consideration • Consequence: all doubts in construing contract to be resolved in greater reciprocity of interest 5. Commutative – equal value is exchanged for equal value • Test: subjective – as long as parties in all honesty that he is receiving equal value then it complies with test & would not be deemed a donation; but must not be absurd. • Inadequacy of price or aleatory character not sufficient ground to cancel contract of sale; inadequacy can show vitiation...
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