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What is a real estate mortgage?

Individuals obtain mortgage loans to finance the purchase of their housing, using their real estate as collateral.  Although conventionally used to finance the real estate that ser…


What is a real estate listing?

A listing contract is an agreement between a real estate broker and the owner of real estate that authorizes the broker to represent the owner in the sale of the property.  Listing…


What is a real estate broker?

A real estate broker is an individual or firm that acts as intermediary between the seller and buyer in a real estate transaction for a commission.  The relationships between broke…


What is a property manager?

A property manager is normally an individual third-party professional who as agent of the owner of real estate (landlord) manages the owner/tenant relations in order to maximize ca…


What is a property developer?

A property developer is a person – individual, partnership, corporation, co-operative or other legal form of organization – that mainly or exclusively engages in property developme…


What is a mortgage?

A mortgage is security created by the transfer (pledge) or assignment of legal title to real property (real estate) or personal property (chattel) in the form of a real estate mort…


What is a hotel property developer?

A new hotel starts with the idea for the project.  It can originate from a property owner, a property developer, a hotel management company, an institutional investor, a public or…


What is a hotel project business case?

A business case is the description and justification of a proposed project or undertaking and development and production of the product on the basis of its expected commercial bene…


What is a hotel business plan?

The business plan a detailed summary of the objectives of an undertaking and outline of the required actions to achieve the objectives and strategic direction, typically up to five…


What is a ground lease?

A ground lease is the lease of only land, typically unimproved property, commonly for 99 years and longer.  All expenses of the property incurred in a ground lease – taxes, repair…


What is a feasibility study?

Business plans rely on feasibility studies.  A feasibility study is conducted to analyze and confirm the optimal product needed to maximize market penetration, performance, and the…


What is a facilities manager?

A facilities manager is an individual who represents the tenant or the owner-occupier of property by aligning property strategy with productivity strategy with a view to the use of…


What development due diligence and analysis is performed?

Planning/pre-construction phase in a property development project involves the investigation of the site, performance of a development needs and use analysis, site acquisition, sec…


What determines a hotel project’s opportunity?

Operator selection is the systematic and independent selection and appointment of an operator and property manager to take over the hotel asset upon completion of the project const…


What determines a developer’s strategy?

A development strategy is a detailed plan outlining how an organization intends to grow and succeed over time, it serving to gauge its overall success.  It defines such internal an…


What defines a hotel project’s life cycle?

Opportunity definition is the first step in a property development project, when the project opportunity is explored, identified and selected.  It calls for project conceptualizati…


What are the site attributes of property?

The geographic location where development takes place is the site.  Site attributes are the natural characteristics of a plot (parcel of land) in terms of its size, shape, topograp…


What are the main concern of property users?

Property users generally prioritize their goals as follows: Maintenance of the property in support of the users’ core business units and activities and the end users’ demand for co…


What are the linkage attributes of property?

Linkage of a particular site or property is its how it is physically connected to the general market, submarkets and trade area within which it competes for space users and/or mark…


What are the key mortgage terms?

In an adjustable-rate mortgage (ARM), the interest rate is generally fixed for a short period of time, after which it is periodically adjusted up or down to a reference market rate…


What are the environmental attributes of property?

Environmental attributes are the distinct but related geographic characteristics used in defining the market context in which a particular property is located.  Markets (neighborho…


What are the common loan repayment methods?

Mortgage loans may be structured as amortizing, balloon or bullet loans.  A residential mortgage is generally an amortizing loan, in which the loan payments of principal and intere…


What are the common ancillary CRE lease agreements?

A subordination, non-disturbance and attornment agreement (SNDA agreement) is employed by a landlord, tenant and the lender to resolve how and when the rights of tenants will be su…


What are the classes of investment property?

Commercial space (units) is defined and ranked by the quality of the property as: Class A – The highest quality of commercial space available; Class B – The second highest quality…


What are the building attributes of property?

Structural attributes are the characteristics of the fabricated structures on a site, including the design, materials, scale, features, quality and other items that define a buildi…


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