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Commercial Property

Commercial property refers to either land or buildings for profit-generation purposes from rental income or capital gains. Commercial properties include among others office buildings, retail stores, hotels, shopping centers, industrial properties and warehouses.

497 Questions

Where you can find or purchase notice of default purchase agreement or nodpa?

This a a CAR (California Association of Realtors) form. Any member of a California Realtors association should have access to this. Note just because someone is a real estate agent does not make them a Realtor. Also, I am not sure of the legalities of them giving you the form as they have to pay a association fee to have access to these forms and there may be a legal issue if they give the form to someone who is not a Realtor. I guess this is one reason to always have a Realtor as a good friend.

What states define a Broker Price Opinion BPO as an appraisal and require it be completed by a licensed or certified appraiser?

WV, PA, UT, NV, MS... Most of the agents/brokers in the bigger cities will complete BPOs for the normal fee but as soon as you get into the rural areas you better count on paying for an appraisal.

ARIZONA: (3/24/2010) A.R.S. 32-3602 This chapter does not apply to: 1. A real estate broker or salesperson who is licensed in this state and who, when acting as such, gives an opinion as to the price of real estate if this opinion is not referred to as an appraisal.

KANSAS: (3/24/2010) 58-4102, (c) "Broker's price opinion" and "comparative market analysis" means an analysis, opinion or conclusion prepared by an individual licensed as a real estate broker or salesperson pursuant to K.S.A. 58-3034 et seq., and amendments thereto, relating to the price of specified interests in or aspects of identified real estate property that is provided to a potential customer, client or third party in the ordinary course of business.

MISSOURI: (3/24/2010) 339.503, (8) "Broker price opinion", an opinion of value, prepared by a real estate licensee for a fee, that includes, but is not limited to, analysis of competing properties, comparable sold properties, recommended repairs and costs or suggested marketing techniques. A broker price opinion is not an appraisal and shall specifically state it is not an appraisal;

What is the size of a standard motorcycle parking space?

A typical motorcycle parking space is 4' wide x 9' long. This also fits a standard automobile space which is 9' x 20', and can be divided into five m/c spaces. The longest Harley, the Ultra Classic is 98.6" long, and the 4' width would be a bit snug when resting on the kick stand, but when adjoining another space, the rider could use a portion of it to access the bike. For the bikes with 8 cylinder engines, it would be suggested to use a standard automobile space.

What personal qualities do you need to become a real estate agent?

I would say that there are two major qualities that make a great real estate agent and those are:

1. Great with people - Real estate agents make their money by working with people on the sale of homes and properties. Some people are great with others and some just aren't, but in order to build relationships and of course make sales, being a people person will get you a lot further.

2. Be a salesman - Some people just can't sell anything, they may not seem trustworthy or come off as two-faced, while others could sell ice to Eskimos. If you are going to make it in the real estate business you have to be able to sell, that's the only way you can make money.

As I said, those are really the two major qualities that can make or break your real estate career, hope it helped.

What is the maximum loan amount you can borrow on an income producing property after you know the debt to income service ratio?

The answer will vary based on the lender, the loan terms including interest rate and other variables. There is no one answer. The debt service to income ratio provides an indication and can be an easy way to screen in or out specific loan programs. Most commercial transactions will look for a debt service coverage ratio (DSCR).

How many square feet are in 1.5 acres?

Answer: 1.5 acres = 65,340 ft²

Algebraic Steps / Dimensional Analysis Formula
1.5

acres

* 43560 ft²


1 acres

= 65,340

ft²
5280 * 5280 / 365 * 1.5 = 65340

When buying property in Spain what is the difference between freehold and leasehold?

Freehold Vs. Leasehold

When buying a property in Spain you have two options - to buy a Leasehold (Traspaso) or a Freehold property.

The main difference between the two options is the initial investment required and the legal ownership of the property.

When you buy a leasehold the initial cost will be much lower than buying a freehold but you will have to pay a monthly rent as long as the lease last. This rent will be fixed over the lease period and only upgraded with the official inflation each year.

As to the legal ownership the buyer of a freehold will own the property whereas the buyer of a leasehold will be responsible for the maintenance and "running" the property, but when the leasehold finish he will not be the owner of the property (although some leasehold contracts gives an option to buy the establishment or lease it for another period at the end of the leasehold).

Leasehold

In general it can be recommended to start with leasing a property if you are planning on owning your first property in Spain - residential or for holiday lettings. The main advantages with a leasehold (apart from the lower initial investment) is that it is a fast and easy way to get started (it only takes a few days to arranges a leasehold contract) and that it is also easy to get out again as the buyer always has the right to sell the leasehold to a third party!.

As you can always sell the leasehold it is a good and safe way to learn about the area and to decide upon buying a freehold or getting out of the market. If you decide to sell the leasehold the owner is entitled to a percentage of the sales price (normally between 5-10%) but you can sell the leasehold at whatever price you choose.

There exists different forms of leasehold contracts but most properties are leased from 30 to 100 years on a renewable lease. When you sign the leasehold contract you will normally have to pay 2 months rent in deposit plus the first months rent. Thereafter the rent will be due to be paid monthly upfront.

As you are not the owner of the property you should be careful about making major changes to the property structure without getting a written permission from the owner.

Freehold

If you decide upon buying a freehold property, you will have to sign a new title deed with the public notary, pay VAT on the purchase, register the purchase of the property, etc.

The arrangement of buying a freehold property is both more expensive and takes a longer time to finish than a leasehold contract. The major advantage is that you will be the owner of the property. This means you don't have to pay a monthly rent (only the mortgage if needed) and you can even sell the leasehold to the property if you get tired of it or the area.

If you have decided that buying or leasing a property is the best solution to enter the Spanish market you can find a few recommendations and things you should be aware of below.

Recommendations

First of all we can recommend to take your time and to look at several properties before deciding upon one. The prices can vary a lot from place to place and by looking at different options you will be able to compare prices, locations and quality between different properties.

If you have found a property you like you should arrange for a second visit. At this stage it is also a good idea to spend some time in the area.

Before you sign any contract there are still a number of important things to clear out.

Although many contracts and guarantees on the property are transferred to the new owner, you still need to make sure that all the paperwork are up to date and in order, or the leasehold contract mention who is liable for any debt. When you buy an existing property you don't only inherit the permissions, guarantees etc., but also all outstanding debts and unpaid bills etc.

When all the papers are in order you have to sign a purchase contract and the new title deed, if buying a freehold, that will transfer the property into your name. With a Leasehold, the owner of the property make all those changes needed to get leaseholders name on electric and water bills etc.

Text taken from:

http://www.eastcoast-estates.com/search/fullnews.php?id=32

What is the average construction cost per square foot in New Jersey?

I am in the process of trying to figure this out as well.

Excluding the land I would feel "cost":

$100 Square is fair & accurate "cost" per "living space", each floor

$40 garage per Square foot

$15 roof per Square foot

$60 Basement per Square foot

though we have recent (Jan 18th 2008) bids as high as $205 a square (no land included, with mid-range finish, margin included) YIKES!

which is too much on a house 4600 sq feet. Still getting bids, but $200+ would push me to reluctantly GC myself and save the huge markup. Sure it may take me 2 years+ to do myself, but I save $300K not bad for a little gray hair.

I am hearing Builder margin is around 20% to builder.

I've been doing this since 1982 and those numbers are definitely a bit off of the mark for 2010.

Living space can range from $100 to $125 a square foot and up depending on finishes and what kind of mechanical systems (plumbing, HVAC, electric) are involved. I've built some REALLY nicely upgraded/finished homes for $125 to $150 per square foot.

$40 and up for garages is ok. It depends on whether it's insulated, drywalled, painted, etc.

I don't really know what "roof" means at that price. To build a porch roof with columns and all of the new connection systems that are required its about $18 to $20 a square foot.

$26 per square foot and up is the real basement finishing price.

What is a single action state?

My limited understanding is that these states only allow the lender to pursue one course of action in a foreclosure. For example they can repo the property or pursue the borrower personally but not both.

How much is abu dhabi worth?

The Abu Dhabi United Group is part of the oil rich state's sovereign wealth fund ADIA which manages £500billion of assets and is the world's second biggest institutional investor, behind the Bank of Japan, according to the Oxford Business Group. Abu Dhabi manages oil reserves worth an estimated $1trillion (£555billion).

What is 1 sqmeter in sqft?

1 square metre = 10.76 square feet, approx.

How much does it cost to build a building?

It depends on what area you build in, and whether or not you hire someone or build it yourself and on what materials you use and how many feet you plan on having

and how many bathrooms and what types of heating systems you plan to have.

A cabin of 10 by 10 might be $10,000 or more.

About 2.5 million dollars to 20 million dollars.

What is a completion bond?

Completion bond is a financial contract that insures a given project will be completed even if the producer runs out of money, or any measure of financial or other impediment occurs during the production of the project. Basically completion bonds are used in construction projects and films industry.

Store space in a shopping mall is often rented by the square foot?

Square footage is the base for rent for store space in many shopping malls. Some stores may have a premium per square foot base on location.

How do you contract with real estate investors to find investment properties for them?

You talk / negotiate with them to agree upon a fixed fee for the investment properties you are able to find for them, assuming they decide to purchase.

How much is rent for a night club?

for one night it will range from $2000 CDN to 4500, depending on the size, number of ppl you want. if you want a big club (over 600 people occupancy) then it'll cost more around 4500 dollar range. for one night it will range from $2000 CDN to 4500, depending on the size, number of ppl you want. if you want a big club (over 600 people occupancy) then it'll cost more around 4500 dollar range.

If you purchase a property stratum in freehold do you own any land or just structures?

Unit title or Stratum title allow for multiple ownership of the land. It is the most common form of ownership for appartment, home unit, town houses and business premises. Each occupier has an estate in fee simple for their strata unit and a proportionate interest with all the other unit occupiers in the common property.