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| Thank
you for participating in our real estate auction sale..
Please read carefully the following information as well as the example given
herein. If you are unsure or need additional information, please contact an
Auction Brokers representative. Time of sale List potential buyer ‹s name and
address and please have your client sign below. Name: 1. The bidder and
prospective purchaser (your client) must name the agent or broker in writing
prior to inspection of the property listed above, and/or prior to registering to
bid. Verbal agreements between any party related to the transaction are
non-binding. 2. You must attend the auction with your client, and assist them
with the bidding. 3. You must assist your client throughout the purchasing term
until settlement. 4. A commission will be paid to the Broker at settlement at a
rate of two percent (2% ) of your client ‹s opening bid and an additional one
percent (1% ) of the difference between the opening bid and final accepted high
bid. For example: If you and your client agree to give an opening bid of
$100,000 and the prop-erty sold to your client for a high bid of $150,000, your
broker would receive (2% ) of the $100,000 and (1% ) of $50,000 for a total
co-op fee of $2500. The higher the opening bid, the higher the commission paid.
5. No commission will be paid to brokers or agents acting as principals, or to
any broker who is currently suspended or disbarred by the Real Estate
Commission. Whether you’re buying a house, selling one or starting a career in real estate, do your homework in WorldCat.http://www.oclc.org/worldcat/promote/wc_real_estate_shelfhanger.pdf. Come visit our comprehensive collection of real estate-related resources or narrow your search to more specific areas of interest such as home loans. WorldCat will show you useful Web-based resources, online articles, how-to books and more. Contact your librarian for more information or help. WorldCat is the world’s largest database of library collections. Whether you’re buying a house, selling one or starting a career in real estate, do your homework in WorldCat. Come visit our comprehensive collection of real estate-related resources or narrow your search to more specific areas of interest such as home loans. WorldCat will show you useful Web-based resources, online articles, how-to books and more. Contact your librarian for more information or help. WorldCat is the world’s largest database of library collections. Real estate has become a very distinct asset class in today’s economy.http://www.deloitte.com/dtt/cda/doc/content/Real_Estate.pdf. Rapid changes in technology, business configuration, capital markets and legislation are forcing companies to continually rethink how they can realise value and secure competitive advantage from their real estate. As a long term, high-risk and capital intensive investment, real estate is now viewed as a global asset that must be carefully managed in the context of an overall business strategy. Success in real estate therefore increasingly requires local market knowledge, international perspective, a high degree of financial expertise and much more. Deloitte helps companies align their real estate to their core business in order to maximize shareholder value. We assist real estate managers make smarter, informed real estate structuring decisions whether their objective is to develop strategies that increase the value of their real estate, develop complex projects, dispose of real estate, raise financing or reduce property costs. Our real estate advisors have developed in depth expertise in the key activities of the real estate investment vehicles value chain. Deloitte provides support in each the following three areas: We will assist with the development of your investment vehicles by: We can coordinate the financing of your plans by: Designing debt and equity securitisation strategies for real estate Managing sale & lease-back or sale & rent-back transactions Setting up PPP’s (public private partnership) Strategic positioning and business plan developments Fund setup and prospectus reviews Assistance in obtaining a Luxembourg Stock Exchange listing What can an attorney do for a seller? A lawyer can protect the seller’s interests in the sale process by: • reviewing financial arrangements and assuring obligations are met at closing.http://www.fsbomadison.com/wisconsin_real_estate_forms/buying_and_selling.pdf. This information, which is based on Wisconsin law, is issued to inform and not to advise. Can’t the real estate agent handle the transaction? Real estate agents are prohibited by law from giving legal advice and representation. In Wisconsin, real estate agents act as intermediar-ies in a sale or purchase but can’t advocate for either side nor provide legal advice. In many transactions no real estate agent is involved. The buyer and seller have conflicting interests in a real estate transaction. Real estate licensees also must inspect the property and disclose defects. How do you hold title to real estate? Financing is the key to most real estate transactions. BUYING/SELLING REAL ESTATE Does the purchase and sale process vary with the type of real estate involved? The basic process remains the same regardless what type of real estate is involved in the transaction, but certain elements may have greater or lesser importance. The Task Force on Real Estate Document Definitions is charged with the following: Review and evaluate the document definitions set forth in the Wisconsin Register of Deeds Association Handbook and other references for their suitability as standard naming conventions.http://www.wlia.org/resources/realestatedocumentdefinitions.pdf. Absent specific statutory language, terminology common to the general real estate community is used. The grantor retains full fee simple ownership until his or her death and then real estate passes in a non-testamentary and non-probate manner. It is used in most real estate deed transfers and offers the greatest protection to the buyer. Ingress & Egress - Allows a party to enter and leave a parcel of land by traveling over the real property of another; a right to enter upon and pass through land. Limited Life Estate - A special type of lease agreement between a non-profit organization that owns an apartment building and an individual or couple who wish to lease a unit as though they are purchasing a condominium. LEASE & RENTS - The unrealized revenue from leases or rents from real estate may be used as collateral for a loan; it may be assigned to the mortgagee in an attachment to a mortgage or in a separate document. LICENSE - Permission to perform an act or series of acts on the land of another without vesting any title, interest or estate in such property. Medicaid Estate Lien – A medical assistance lien against real estate owned by an individual who has died is satisfied and a new lien is placed on the estate to allow the spouse or other former caretaker to continue residence. MARITAL PROPERTY - Chapter 766 of Wisconsin Statutes establishes marital August 16, 2004 This Policy is effective immediately upon adoption and supersedes all previous franchise finance real estate investment policies.http://www.calpers.ca.gov/eip-docs/investments/policies/real-estate/fran-fin-real-est.pdf. I. PURPOSE The design of this Policy ensures that investors, managers, consultants, or other participants selected by the California Public Employees’ Retirement System (“the System”) take prudent and careful action while managing the Portfolio. Additionally, use of this Policy provides assurance that there is sufficient flexibility in controlling investment risks and returns associated with franchise finance investments. This Portfolio shall be considered a component of the Specialized Equity Real Estate Portfolio, and as such, shall be required to achieve an appropriate risk-adjusted return. The Portfolio shall be managed to assist the System in achieving its long-term objective of exceeding a minimum target real rate of return of 6.0% (after fees). The Portfolio shall be expected to achieve a real rate of return consistent with other equity real estate investments of similar risk. The Portfolio shall be subject to the investment processes described in the Statement of Objectives and Policies for the Equity Real Estate Portfolio and the Delegations of Authority incorporated herein by reference hereto. Investment in franchise finance shall be undertaken only if consistent with the System’s objectives of capital preservation, diversification of risk, and achievement of real rates of return. The System shall invest in real estate franchise finance on a direct or indirect basis through third-party investment advisors, general partners, operating company management teams or other Real estate agents/brokers may feel uneasy when they realize that a property they are showing or listing has or had underground storage tanks (USTs) on the premises.http://www.deq.state.id.us/waste/data_reports/ust_lust/real_estate_usts.pdf. Part of this unease may stem from not knowing what needs to be done or who to turn to for assis-tance in dealing with USTs. If you are a real estate agent/broker who deals with USTs on properties in Idaho and would like to better understand how to handle them, this booklet is for you. Helping you understand the various options a seller or buyer has when an UST is on a property. Helping you direct a client who may need to contact the UST regulatory authority. Helping you direct a client who may need to find an UST technician or contractor. The following pages contain common questions and answers about properties with USTs in the state. A federally regulated underground storage tank (UST) is a tank and any underground piping connected to the tank that is buried at least 10 percent underground. The federal regulations apply only to USTs storing either petroleum or certain hazardous substances. If you have questions related to the storage of other substances, contact either the EPA or the Idaho Department of Environmental Quality (our regional offices are listed on the back of this booklet). Tanks storing heating oil used on the premises where it is stored. Remember, even though a tank may not be regulated, if a release occurs then it can become regulated under state cleanup requirements. Here are some of the things a real estate professional should consider when listing a property in Idaho that may now contain or in the past may have contained an The purchase or sale of a house and real estate is often the largest and most complex financial transaction that most people ever make, as well as one of the most emotional.http://www.mainebar.org/documents/lris/OLABARealEstate06.pdf. Whether you are the buyer or the seller, you need to understand the legal steps and agreements involved, and be sure that everything is done correctly. Role of Real Estate Broker If you are selling your property, you will probably want to hire a real estate broker or agent. When you “list” property with a broker, you are hiring the broker to advertise and show your property to prospective buyers. When the house sells, an agreed percentage of the selling price will be collected by the broker as the fee for this service. Sellers and their brokers must give buyers written statements called “disclosures” about the condition of the property being sold, including anything wrong with it. As a seller, you must be honest and complete in filling out the disclosure. If you are not, the buyer may be able to sue you later. Your broker must also sign the disclosure and is responsible for its truthfulness. If you are a buyer, you should read this statement carefully. A broker can also help buyers by providing names of title attorneys, answering questions and providing general information about the technical and financial aspects of buying real estate – this is part of selling the property. If you are buying real estate, you may find the broker’s assistance genuinely helpful, but always remember: the broker’s job is to get the best deal for the seller, not for you. Purchase and Sale Agreement In Maine, the contract between the buyer and seller, called a “purchase and The soundness of real estate loans and investments made by financial institutions depends upon the adequacy of the underwriting standards and credit analysis used to support these transactions.. A real estate appraisal or evaluation is one of several es-sential components of the lending process. For other investments, appraisals and evaluations are used to validate the value of interests in real estate. The soundness of mortgage loans and real estate investments of both the association and those of its service corporations depends to a great extent upon the adequacy of the loan underwriting. The board of directors is responsible for adopting and reviewing policies and procedures that estab-lish effective real estate appraisal and evaluation programs. Appraisal and Evaluation Compliance Procedures (for all real estate-related transactions) Institutions should establish procedures to ensure appraisals and evaluations satisfy the technical re-quirements of Part 564, as well as internal policies and procedures. Appraisal and Evaluation Review Procedures (for certain real estate-related transactions) An institution should have appraisal and evaluation review procedures that are separate from the ap-praisal and evaluation compliance and audit procedures. The transaction involves a lease of real estate that is not the economic equivalent of a pur-chase or sale. Appraisals should be sufficiently descrip-tive to enable both the savings association’s personnel and regulatory staff to ascertain the estimated market value and the ration-ale for the estimate by providing detail and depth of analysis that reflects the complex-ity of the Massachusetts Academy of Real Estate Broker License Class Schedule Class Requirements 30 Hours Location: Massachusetts Academy of Real Estate 161 Forbes Rd Braintree 781-848-1404 November Dates: Class Hours: 9:00 a.http://www.massrealestateclasses.com/broker.pdf.m.-4:30 p.m. November 5th, 6th, 12th & 13th Participants must attend all four classes or they must make up the material they missed. Most financial planners would agree that real estate has been a sound investment over the years.http://www.cfmdin.org/clientuploads/pdfs/ebooklet/other-giftsrealestate.pdf. While there have been wide regional variations and dramatic ups and downs — such as the steep declines during the late ’80s to mid ’90s — real estate in many parts of the country has regained strength. Why a Gift of Real Estate? Before looking at creative ways in which both you and charity can benefit, consider the real estate you may own: a personal residence, vacation home, farmland, rental or investment property, office building, undeveloped land, inherited property, etc. If you sell the real estate, will you incur a significant capital gains tax? When you make an outright gift of real estate, you can claim an income tax deduction for its current fair market value (reduced by any mortgage debt), subject to annual limits on the charitable deduction based on your adjust-ed gross income. Finally, the donated property is removed from your estate, thus bypassing any potential federal estate tax. Gift with a Retained Life Estate Under a life estate arrangement, you retain the right to live in or use the property for the remainder of your lifetime. Gifts of Real Estate — UNLOCKING THE FINANCIAL BENEFITS This technique may be most useful when you want to make an outright gift of property, but the gift in its entirety would far exceed your charitable income tax deduction limits. By con-tributing undivided portions in different years until all of the real estate is donated, you can make full use of annual limits on the charitable deduction. Gifts through a Will or Trust You may transfer your real estate to us through your will or Culture, REITS, and demolition: The past few months have seen quite a few real estate related issues being discussed, debated, or even legally challenged by members of the public and legislature.http://www.real-estate-tech.com/articles/ret0105.pdf. Nonetheless, against this background the Hong Kong economy seems to continue the upward march and so does the real estate sector as a whole. We would also like to hear from prospective readers / writers who wish to share their real estate knowledge and experience with us. This quarterly (generally published in January, April, July and October) newsletter is circulated freely via email to over thousands of readers including real estate developers, investors, fund managers, financiers, owners, users, top executives, senior managers, prominent academics and related professionals from Hong Kong and abroad. We also operate a website www.real-estate-tech.com through which we intend to share some of our real estate knowledge and ideas with interested parties. Zeppelin Real Estate Analysis Limited is involved in real estate development, investment, and asset management with a focus on independent analysis, investment strategy, and portfolio management. It can also assist in setting up real estate analytical systems and content development. It is part of the Zeppelin Group of Companies which collectively also offers real estate project management, facility management, marketing management, building design and architecture, and capital management services. We are glad in this issue to have Professor Eddie Hui from the Department of Building and Real Estate of the Hong Kong Polytechnic University as our invited guest writer who, along The Internship Program is a commitment between the Terry College of Business Real Estate Program and some of the industry’s leading real estate leaders and firms to provide a unique educational experience on an ongoing basis.http://www.terry.uga.edu/realestate/recruiters/internship/Terry_Real_Estate_Internship.pdf. We are looking for firms that are willing to provide our students with an education that combines academic work with practical, applied experience in the real estate industry. We have tried to anticipate some of the questions that you may have in the material presented within, if you have additional questions please feel free to contact the Terry Real Estate Program. The undergraduate students will be junior or senior business students majoring in Real Estate. They must have completed at least an introductory course in real estate, and may also have completed courses in real estate asset management, finance, valuation or development. Many students also have prior work experience, usually in part-time positions outside of the real estate industry. The MBA students come from across the nation and typically have 2 - 3 years of work experience, mainly in areas outside of the real estate industry. Some firms offer the intern an overview of their real estate operations, by rotating the intern through the various functional areas of the firm. U.S. News and World Report consistently ranks it as one of the top real estate programs in the nation. No other real estate program in the Southeast is ranked higher than Terry’s. The real estate major consists of required courses in real estate principles, investments, finance, and valuation. Electives include real estate development and real estate law, in addition On the other side of the Pacific, the USA new house demand appears to have dropped or dropping still with weaker home sales and on which we have written an article in Chinese: http://www.http://www.real-estate-tech.com/articles/ret3Q07.pdf.real-estate-tech.com/gb2312articles/hkej421_S.htm. Hong Kong Residential Real Estate: Past, Present, and Future We would also like to hear from prospective readers / writers who wish to share their real estate experience with us. This quarterly (generally published in January, April, July and October) newsletter is circulated freely via email to over thousands of readers comprising real estate developers, investors, fund managers, financiers, owners, users, top executives, senior managers, prominent academics and related professionals from Hong Kong and abroad. We also operate a website www.real-estate-tech.com through which we intend to share some of our real estate knowledge and ideas with interested parties. The website is regularly visited by thousands from all over the world and should be of interest to people interested in China real estate markets. Zeppelin Real Estate Analysis Limited is involved in real estate development, investment, and management with a focus on independent real estate analysis. 1) Collectively as a group, the votes confirm the affinity for office real estate, followed closely though by residential and retail real estate with the latter having a lead over residential. <3> The survey participants and marketing insights: are MS in Real Estate students enrolled in the Department of Real Estate & Construction at the University of Hong Kong and many have prior working experience and are / are expected to be engaged When buying or selling a home, a good real estate agent can save you a lot of time and money during the process.http://www.denverbbb.org/files/public/Real_Estate.pdf. A professional real estate agent will help you determine how much your home is worth, devise a strategy to market the property, help judge whether prospective buyers are qualified to purchase the property and coordinate many of the details involved in closing the sale. How do you go about choosing a reputable real estate agent? Here are some helpful hints: Ask friends, family and coworkers for referrals. Interview multiple candidates from different agencies. Ask for proof of qualification. Ask about their experience. Check to make sure the agent is licensed in your state. Do they know the market? Is the agent familiar with your neighborhood? An agent with a history of transactions in your area will know what’s available and the optimum pricing for your neighborhood. What level of customer care will you receive? You want to confirm that your real estate agent is ready, able and willing to help you when you need it. Most importantly, you need to be comfortable with your real estate agent. Make sure that you are compatible with the real estate agent that you choose. | ||
