Part I: Select a piece of real estate (residential, commercial, warehouse, land), any number of resources can be used (www.realtor.com is one option). You will need to include a listing sheet/link with your submitted assignment.Part II: Determine a down payment. (a standard down payment is 20%, however you may offer justification for any amount/percent you choose)Part III: Research 2 different financing optionsPart IV: Use Excel (or other approved spread sheet) to create a complete amortization schedule for the lif of both financing options.Part V: Write an analysis that compares and contrasts the two financing options in detail. Be specific. Include justifications for selecting an option.A real estate listing sheet_____ / 5A description, explanation, or calculation of the down payment for the property_____ / 5A description of the two financing options/products being compared_____ / 5A “hand-made” Excel spread sheet containing side by side amortization schedules_____ / 15Written analysis (20 points total) – Explanation of any background information and/or further description of loan types selected_____ / 5 – Analysis of the similarities and differences in the amortization schedules_____ / 5 – Justification for selection of either option_____ / 5 – Use of proper grammar, spelling, sentence structure and paragraph structure_____ / 5TOTAL _____ / 50I have attached a example for Use or reference. This project must have a excel spreadsheet as specified above.
real_estate_listings__1_.docx
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Assignment Grading
Course Name
Real Estate Listing
Student’s Name
Professor’s Name [optional]
University
Listing sheets, which are normally arranged by realtors and real estate operators, give
specialists, purchasers and vendors’ data on a home available to be purchased. Established in
1930, Harry Norman, REALTORS is Atlanta’s most seasoned and biggest private land firm
with 12 business workplaces, different establishment and satellite workplaces, and more than
1,000 land experts. Harry Norman, REALTORS is a completely possessed backup of
HomeServices of America, Inc., a Berkshire Hathaway subsidiary. HomeServices is the
second-biggest full-benefit autonomous private land financier firm in the U.S. with 30 areas,
more than 20,000 business partners and more than 3,500 representatives. Harry Norman,
REALTORS is the selective Atlanta associate of Christie’s International Real Estate and
accomplishes extra global introduction through participation in such elite land organizes as
Leading Real Estate Companies of the World® the biggest system of free private land firms,
with 600 individuals speaking to 5,000 workplaces and 150,000 partners over the U.S.
Furthermore, in more than 35 nations
Listing Sheet for Harry Normanproperty at 442 Seven Springs Road, Dawsonville, GA 30534
are written below:
Wintermont is a 248 section of land retreat group in the North GA Mountains, situated on
Burnt Mountain Rd. Wintermont highlights twenty-two living arrangement packages
assembled around an inlet backwoods with strolling trails and a seventy foot waterfall. Estate
properties from five to twelve sections of land are precisely summoned to guarantee
detachment. Gotten to by a gated, cleared street that winds through the property, these high
rise tracts highlight full grown hardwoods and mountain sees. Bordering Wintermont’s
eastern limit is the Dawson Forest Wildlife Management range, a 20,000+ section of land
safeguards.
Listing Information
Style: Cabin, Timber: Hardwoods, Mixed, Pine
Setting: Mountain Frontage, Mountain View
New Construction: More Than 2 Years, Acres: 248.00, Topography: Rolling
Lot Features
Lot Dimensions: 248 acres, Lot Acres: 248.00
School Information
Elementary: Dawson – Other, Middle: Dawson – Other, High: Dawson – Other
Architectural / Civil Specifications
• Exclusively designed 160 Nos. Of 3- Bedroom Luxury apartments.
Living / Bedrooms
•
Super Quality Vitrified tile flooring & skirting
•
Plastic emulsion for walls & ceiling.
Kitchen
•
Ceramic tile flooring
•
Ceramic wall tiling up to lintel level
•
Plastic emulsion paint for wall above lintel level & ceiling.
Toilets
•
Ceramic tile flooring
•
Ceramic wall tiling up to lintel level
•
False ceiling with grid panels
•
Plastic emulsion paint for ceiling for apt. On top floor
Staircase (Fire Exit Staircase)
•
Cement concrete for treads & Risers
•
Parapet wall with granite coping
•
Textured Paint for Walls.
Common Areas
•
Granite tile flooring and skirting.
•
Textured paint for walls.
•
Plastic emulsion paint for ceiling.
•
Granite coping for parapet/MS handrail as per design.
Balconies/Utilities
•
Superior quality ceramic tile flooring and skirting.
•
Granite coping for parapet/MS handrail as per design.
•
Plastic emulsion paint for ceiling.
•
All walls painted in textured paint.
Joinery
•
Main door of Lacquered PU finished natural solid wood frame and architraves.
Shutter with both side Masonite skin.
•
Internal doors of Lacquered PU finished natural solid wood frame and architraves.
Shutter with both side Masonite skin.
•
High quality ironmongery and fittings for all doors.
•
The toilet door of lacquered PU finished natural solid wood frame and architraves.
Shutter with Masonite skin on the external side and laminate on the internal side.
•
Heavy-duty aluminium glazed Sliding windows & French windows made from
specially designed and manufactured sections.
•
All other external doors to be manufactured in specially designed aluminium extruded
frames.
Lifts
•
Lifts of reputed make.
•
Capacity: 8- passengers & Stretcher lift in each core.
Down-payment and Financing Option
Initial down payment for the plan is 20% of the total amount. The total cost ranges from
$140625 to $203125.
The developer is also giving some exciting over and gift to attract the customer.
There are several ban tie up and schemes applied for the payment of the sum, few of them are
discussed below:
Free and Clear: The most straightforward vender financing choice is the point at which a
proprietor offers a home without a worry in the world of all liens. The purchaser makes an
up-front instalment and pays the arranged, month to month chief and interest instalments to
the vendor who then conveys the advance adjust in a private note.
Wraparound Mortgage: Offered by those hesitant to take a more dangerous, second lien
holder position, wraparound home loans is additionally an open door for venders to acquire a
decent rate of return. For Example
“On the off chance that I am a dealer with a $100,000 home loan advance at 4% and the
property is worth $150,000, I’d offer it to the purchaser with $10,000 down, conveying the
whole distinction [$140,000] at 7% on a wraparound home loan or comprehensive trust
deed,” says Lance Churchill, a lawyer with the Frontline Education Group. “I’d preferably
make 2% or 3% on the $100,000 as opposed to only 7% on the $40,000.”
Yet purchasers ought to know the dangers included with wraparound. “On the off chance that
you are running with a wraparound home loan, dependably run with an escrow organization,”
exhorts Amolsch. “You don’t realize what the vendor is doing with your cash.” Escrow
organizations will guarantee that instalments make it to both the merchant and the senior
bank lien holder. Another danger includes the bank finding this specific loan. “This sort of
plan disregards what’s known as a due discounted provision that fundamentally says the
current moneylender must be paid off when the dealer offers the property to another
purchaser,” cautions Bronstein.
The detail payment can be seen below:
At the point when an obligation is amortized by equivalent instalments at equivalent
instalment interims, the obligation turns into the reduced estimation of an annuity. The span
of the instalment is decided by the techniques utilized as a part of the annuity issue of
the going before parts. The basic business practice is to round the instalment up to the next
penny. Since if a major lump of cash is paid by a client it’s effectively advisable to pick the
second alternative if the client has a relentless wellspring of wage. Since the second
alternative gives them an advantage in duty conclusions. Likewise the danger lay on the both
side and can be alleviated with the time.
References:
Shobha Group, Building on the foundations of Synergy, Retrieved fromhttp://www.sobha.com/pdfs/annual-report-2013-2014.pdf
Project Details by harrynorman, Retrieved from http://www.harrynorman.com/Home.aspx
Lindsey Thompson, What Is a Realtor Listing Sheet?,Retrieved fromhttp://www.ehow.com/facts_6129884_realtor-listing-sheet_.html
…
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