Category Archives: Real Estate
It’s difficult to provide accurate real estate property taxes information, but we have gone through the rigor of putting together as much real estate property taxes related information as possible. Even if you are searching for other information somehow related to child care and childcare, property tax information, find property tax or back property taxes this article should help a great deal.
In addition to that, you will still be able to deduct the mortgage interest rates as well as the real estate taxes.
The expenditures used to obtain a mortgage are not included in the list of deductible when paying them. Mortgage expenses also include appraisals and commissions paid.
If, you owned the home for less than two years you may still qualify for gain exclusion if you sold your home due to job, health or unforeseen circumstances. Ensure that you have the necessary documents to back up your claim, such as a doctor’s letter.
Don’t forget that even if your immediate real estate property taxes quest isn’t answered in this article, you could even take it further by doing a search on to get specific real estate property taxes information.
Property taxes are determined by taking the value of a home and multiplying it times a given tax rate.
They should have a file on your property information provided by the appraiser. Compare it to the true situation at your home. Appraisers are famous for adding a bedroom, bathroom or whatever.
The thing all these tax decline owners have in common by the time the sale rolls around is this: they are ready to sell to you, quickly, and for much, much less than you’ll pay bidding at the sale.
Many folks seeking online for articles related to real estate property taxes also sought for articles about property tax help, pay, and even property taxes assessment.
You can make lot of money through real estate investor websites and investment websites by honing your skills in searching for the good properties through eccentric sources like public records. You need special skills to master the technique of examining public records. Getting trained for real estate investor websites attorney may also help. Below given are the three key areas of public records you could use for real estate investing websites.
1. The tax evaluator’s office. The records available in tax evaluator’s office give you real estate investment and investor information about who is paying the taxes on real estate investments you are interested in. You could also get information on the property whether it is on rent or is owner occupied. Real estate investment property rentals would also have the tax bill going to the particular address. Since it is landlord who would like to receive the tax information and not the tenant, the tax bill is normally mailed to the landlord’s address. Rental investment property will not qualify for homestead exemptions; thus, if there is none, then the property is rental.
Once you have identified the property for real estate investment, you need to check the mailing address for the tax bill and use the exemption column to identify the real estate property owner and his name. After getting the owner’s name and his mailing address, send out your own proposal or deal on your letterhead to the tax bill mailing address. If he is a real motivated seller, the deal would work out in your favor.
2. The record room. A real estate investor would find a helpful trip to the real investment property record room, or recorder’s office in some other states, or the clerk of the court. This is the place of the courthouse where the deeds are finally filed. Check the most recent deed filed for the real estate investor property you have identified for your investment purposes, and see who holds the title for it. Look at the latest three most recent deeds in the chain of title of the same real estate investor property to create and establish ownership of a given piece of investment property. The following example would clear the concept. Mr. A sold the property to Mr. B in March 1991. Mr. B sells it to Ms. C in April 1996. Ms. C further sells it to Mr. D in October 1999. You would find Mr. D’s name on the title sheet, establishing him as the existing investment property owner. Note their names and go on to the next destination for final knowledge on the real estate investment property.
3. The probate court. Go to the local county probate court and look into the real estate investment indices. Find the records concerning the names of the property holders. The court records would have complete addresses for each person, as they must have been given very legal notice of the proceedings for change of title deed on real estate investor property transfer. Sometimes the tax records may not reflect the latest updated and hence might not reflect the true, present owner. The tax records might reflect an order of the probate court, but the deed might not have been finally filed in the record room. So get the real mailing address by inspecting the probate court estate record. Send your business proposal to the right owner of the real estate property.
Real estate investing could be made very easier if a real estate investor uses unconventional sources to identify properties for buying. However, it is not necessary that one should make every deal based on public records. The use of public records gives you a head start while dealing with any abandoned property, rental property with truant landlords, and few other special types of properties with no known owner.
You see, we should be very thankful that we are born in this modern generation because of the existence of the Internet. With the Internet, every information (whether about real estate property taxes or any other such as real estate, Missouri personal property tax, state property tax or even city property taxes) can be found with ease on the Internet, with great articles like this.
Having a second home is becoming more attractive because of its tax benefits. However, it can be confusing. Having a second home has different tax advantages but you have to check with your accountant or similar advisers because tax regulations change from time to time.
The expenditures used to obtain a mortgage are not included in the list of deductible when paying them. Mortgage expenses also include appraisals and commissions paid.
The government is making it easy for homeowners to save on their taxes this year. Whether you’re a first time buyer, or just renovating, there are a number of savings out there.
Don’t forget that you are only a step away from getting more information about real estate property taxes or such related information by searching the search engines online. Search engines alone can give you more than enough results when you search for real estate property taxes.
The improvement might cost you money, but the savings on property taxes each year may well pay for the improvement in a few years and you will still end up paying less in property taxes.
This is particularly true of home owner’s with many just struggling to stay afloat. This is why you need to seriously take a look at the value of your home used for the determination of property taxes.
This little-known method of investing in tax foreclosure properties is known as “deed grabbing” amongst the small number of real estate investors that practice it.
Many people searching for real estate property taxes also searched online for fl property taxes, assessed, and even property tax assessment.
So here is chance to get your free tips on calculate property taxes and in addition to that get basic information on saving money visit definition of property taxes
Loan processing outsourcing is in fact no alien term to people nowadays. As a matter of fact, it is particular system which is trusted by all the major loan processing companies in the world. With the passing of time the possibilities are truly appearing to be immense. These outsourcing firms that operate in the domain of loan processing fully ensure the fact that a prospective customer can fully meet the requirements pertaining to the lenders as well as banks. There is no denying that these loan processing activities might seem to be a little frustrating as well as time consuming. However these outsourcing firms are there to take the onus on their shoulder and do the needful.
As a matter of fact, a crucial act such as a Loan processing outsourcing is carried out with a great deal of precision. The procedure is taken care of under the high end supervision of seasoned professionals who know this particular field like the back of their palm. There is no denying of the fact that you will find the application processes as well as other crucial parts of these loan processing to be a piece of cake with the help of these outsourcing firms. They do their best to minimize the hassles for the consumers.
On the basis of offshore services a loan processing service in now more of an accessible as well as affordable option for the loan seekers. There is no denying that the rapid growth of web technology has played a major part in making loan sanctioning processes a piece of cake. A Loan processing outsourcing can be carried out with the help of web based communication techniques. There is no problem at all if the lender and the loan seeker cannot meet physically. The communication channel can be established via the internet and both the parties can have a heart to heart talk in a seamless fashion.
With the growth of technology Loan processing outsourcing is in fact entailing more and more lucrative features almost on a daily basis. Based on the high end as well as state of the art technology of the present time it is now possible for an outsourcing company (that operates in this competitive mortgage market) to exercise and establish a strong hold over a number of crucial activities such as gauging as well as analyzing fraud risk factors, maintaining proper as well as timely communication processes with the clients, maintaining an equilibrium in the quality control process, establishing control over the origination process, making a seamless analysis of the underwriting activities, understanding the facts related to credit risks etc.
At the same time an underwriting outsourcing company can also take a creditable role in ascertaining decisive factors in the aspect of commercial loan facilities for business entities. A Loan processing outsourcing is also significant in the task of reviewing the condition of a particular person who has applied for the loan. These outsourcing firms will take crucial decision in the realm of making an approval for the loan. They are also considered to be the most significant entities that gauge as well as decide the amount of collateral risk associated with a particular loan process. So it can be easily fathomed out that the significance of these outsourcing entities should not be taken lightly.
Mortgage Loan Processors helps mortgage brokers and bankers cut costs. There are many Commercial Mortgage Processing Services that cater to Mortgage Brokers and Lenders nationwide with a structured process to ensure success.
As a qualified note finder, one of the top questions in the note business I get from customers is this…
What happens at the closing of my real estate note sale?
The funny part is that in my position, I have never dealt with the closing of a real estate note deal. My main job as a qualified note finder is to connect sellers with buyers. So, once the connection is made, I am out of the loop.
At this point, I started asking some questions, and doing some research. I couldn’t find one good article on how the closing is done for the transfer of a real estate note from one party to another. So, I asked some of the buyers, and this is what I found out.
This information should put your mind at ease, because it is a pretty simple process. There is not much work involved in the closing of a note. The hardest part is waiting for your check. Unfortunately, the closing does take a little bit of time.
Let’s break down the sale of a real estate note from beginning to end, so you can see clearly what is involved in a real estate note transfer of ownership. This will give you a good idea of what to expect, especially if you are thinking about selling your note.
First of all, you need a price quote. Qualified note finders give free quotes. I suggest you locate a finder when selling your real estate note. A qualified note finder has a wealth of information concerning notes, and understands the current market. Plus, a finder will save you valuable time and effort by finding you the right buyer who has the highest quote.
Next, you need to agree to the price quote. After your finder tracks down the buyer with the best quote, you have to make a decision. Do you take the lump sum of money now or do continue to deal with the headache of collecting that small monthly payment.
Once you decide to take the money and run, a contract is drawn up for you to sign that locks in the price quote. It is important to sign and return this contract as soon as possible, so the buyer can’t lower the price on you. The more prestigious buyers give a bit of time to decide without giving you any hassle. It is stated on the contract how much time you have to return it. I just wouldn’t mess around, when it comes to your money.
With the contract, you will receive a checklist of all necessary documents and information you will need to collect. The big ones are a copy of the secured instrument (mortgage, trust deed, land contract, etc.), a copy of the real estate note attached to the instrument, proof of fire insurance on the property, and copy of the payment record. Depending on the buyer there will be few more things you need, but those are main pieces of information and documentation. You send all the necessary documents and information you need to the buyer and the closing begins.
Now that the hard part is over, we can focus on how you get your check. The closing of the real estate note deal is pretty simple really. First, if hasn’t been done already, the credit of the payer on the property is checked. If the payer happens to have bad credit the buyer can default of the contract. It is my understanding that by federal law you can check the credit of the payer twice a year, and it is probably a good idea to check it before you get this far, so you are not wasting your time. Unless you know they have good credit, you should check it. If you would like the buyer to check the payer’s credit, the buyers I work with will do it for you for free.
Now, if the payer’s credit is up to par, then an appraisal is done on the property. After the appraisal is complete, and the property value meets the buyer’s standards, title of ownership is transferred. Finally, you get your check, and walk away from that small monthly payment with a nice lump sum of money.
We work with buyers that pay all closing costs and fees.
Joint Venture termed for a venture or a project achieved jointly or combined. A project which has been achieved by the collaboration of two or more parties. In real estate joint venture means that a project is developed by two parties jointly. This generally happen where one party would have his land and the other party would be interested to develop a project on that land.
Some time the owner of the land could not develop it because of many reasons such as he doesn’t have the expertise or he doesn’t have the fund and likewise for the other party who want to develop might not have a land in the prime location where he can build up a nice project.
So, if these two parties join together on a mutual understanding they sign an agreement which is termed as joint venture agreement. This agreement comprises legal understand like will there be any advance or good-will money be paid by developer to land owner? Advance is the amount which a developer needs to pay to land owner which would be refunded by the land owner after completion of the project. If any problem arises while constructing, because of which they couldnt complete the project, then that advance Amount will not be paid back.
Good-will money is the amount which a developer need to pay to land owner for developing the project and this is not refundable. This would remain with the land owner even after completion of project.
Now when the project is completed, the property will be divided between the land owner and builder, the ratio is worked out between 60-40 or 50-50 which mean that builder will keep 60% and owner will keep 40% or both will keep 50%. This division done is basis of the built up area. Built up area dependents on the site area and the road width where the site is situated, for a 30ft road width one can maximum have build up area as 1.6 times the site area, following are the regularities for different roads
30ft road 1.6
40ft road 2.0
40ft-60ft road 2.5
60ft to 100ft 3
above 100ft more than 3 and generally more than 100ft wont be there for residential purpose
So now lets take this example to even simplify of what we have said above:-
Let take a site which is 20000 sqft and the road width is 40ft road so maximum built-up area should be 40000 sqft. Lets assume the joint venture agreement between owner and builder is fixed as 50-50 ratio and also the owner of the land get 1cr as advance. Generally the property building cost would be Rs. 1000 per sqft, so to build 40000sqft it is 40000*1000 = Rs 40000000. After completely building the apartment, the builder would get to sell his 50% share of the total 40000 sqft which is 20000 sqft. Lets assume the apartment selling rate is worked out to be Rs. 2200 per sqft, then he will earn 20000*2200= Rs. 44000000, so builders total earnings for this apartment will come to Rs 4000000 minus the interest rates for the 1cr advance. Let say construction take 2 yrs to complete, so builder would lose the interest for 1cr for 2 yrs, which would come around 2400000, if he takes an interest rate of 12%. So finally builders total earning for this property would be 40l-24l=16l which is not good for his 2 years of work.
Likewise, lets take the land owners point of view, Let say that the land rate is Rs 2500 per sqft so by selling land owner will get 5cr and by doing joint venture he will earn 4.4cr + the interest on 1cr which would be 4.66cr which is 34l less than what he would have got without doing Joint Venture so its not feasible. So, eventually this deal wont work out for both the land owner and builder.
All the above calculation goes into paper to decide whether to go into joint venture or not. A sample copy of joint venture agreement can be drafted with a help of lawyer.
Real estate attorneys often have to deal with preliminary injunctions early on in a lawsuit. Often a party will file a complaint and make an ex parte application for a temporary restraining order and preliminary injunction shortly thereafter. The court will essentially engage in a mini-trial at the beginning of the case in order to assess the need for an injunction. Because the granting of an injunction can prevent a party from managing or disposing of a property as he sees fit, an injunction can be a powerful tool for leverage in real estate litigation.
What Is A Preliminary Injunction?
A preliminary injunction is a provisional (i.e., before trial) injunction that is meant to keep the status quo prior to a trial and judgment. A preliminary injunction is intended to prevent irreparable injury from occurring prior to a final court ruling. In real estate litigation, preliminary injunctions are often brought to prevent a foreclosure, a sale or destruction of property.
There are two types of injunctions: a prohibitive injunction or a mandatory injunction. The prohibitive injunction prevents a party from doing something (i.e., selling the property). A mandatory injunction compels a party to affirmatively do something.
Preliminary injunctions are just that: preliminary. They do not represent a final ruling on the dispute by the court. Even if an injunction is granted, the case will continue as any other lawsuit. At the time of trial, it is conceivable that the court could find in favor of the party who lost the application for injunction. In Los Angeles Superior Court, for example, a lawyers application for preliminary injunction is often heard by one judge while the case itself will be heard by another judge. Moreover, after the injunction but before the trial, the parties will have time to develop their evidence and conduct discovery prior to trial. At the end of trial, an injunction may be made permanent (if applicable) or may be cancelled. Oftentimes, at the conclusion of trial, the issue that led to the application is rendered moot.
When Will A Court Grant A Preliminary Injunction?
One of the key ingredients in a claim for a preliminary injunction is a showing that the moving party has a reasonable probability of prevailing. In other words does it look like they will win the case?
This must be done through a showing based on admissible evidence and a viable legal complaint. A preliminary injunction may not be based on a complaint that does not adequately allege legal causes of action.
Another key ingredient in an application for a preliminary injunction is irreparable injury. In other words, will the preliminary injunction prevent a party from an injury or damage that cannot be addressed later in the lawsuit. The best example of this is when monetary damages are the remedy. There would be no need for a preliminary injunction in a case where a party will suffer monetary damage because the court can award those money damages later on. A party seeking an injunction must establish that money damages would not be adequate or that it would be extremely difficult to establish the amount of damages.
In addition a mandatory injunction is more difficult to win than a preliminary injunction (because the court is more hesitant to force a party to affirmatively do something as opposed to simply maintaining the status quo). Case law states that a mandatory injunction is not permitted except in extreme cases and is only rarely granted.
Because a preliminary injunction will preserve the status quo and may act as powerful leverage in real estate litigation, always consider whether an application for a preliminary injunction is appropriate.
Market analysts say the recession has officially ended. However, they also believe that effects of that economic battering will still be felt by the country for months or even years to come. That has left some people asking: is it advisable to start investing in real estate right after the recession? You will be surprised with the answer.
Actually, investing in real estate today is a splendid idea. You may not believe it, but for many reasons, this is the kind of investment that will bring you profits. Here are a few of the reasons why you should inject your money into real estate today.
You can buy more real estate properties for less today. Since the economy has just come out of a slump, property prices have yet to fully recover. They are relatively lower at the moment. That means that your savings might buy you a house today. Seriously. Today presents an opportunity for you to purchase properties for pennies on the dollar. Thats value for your money. If youre a first-time home buyer, now is the right time to realize that American Dream of home ownership. If you are an investor, this is your chance to buy a property you can hold on to for now and sell for a profit in the future.
Another reason is that you have the choices of real estate. Various kinds of affordable properties are now selling across the country. The recession has led to an increase in the number of properties repossessed by banks. These are known as REOs or real estate owned properties. REOs are decent enough to become your first home. A lot of mortgage payers are also considering letting go of their property because of the tougher times. Fixer upper homes, also known as handyman specials, are very economical. These are properties that need repair and are a prime commodity for rehabbers and wholesalers.
Reason No. 4 is there are methods of investing in real estate that thrive today. Short-term methods of investing like wholesaling and rehabbing are a hit business today. Because there are thousands of available cheap properties, wholesalers and rehabbers are taking advantage of the opportunity. Wholesaling is quickly buying and selling a property for a profit while rehabbing is repairing the property before it is sold.
Lastly, education about investing in real estate is more accessible today. Before, your only sources of real estate knowledge were mentors and books. Today, there are several websites that provide this kind of education, even for free.
Have you ever noticed how buyers flock to purchase property in droves when real estate prices are at their peak, yet buyers are relatively scarce when prices are most affordable? Notwithstanding the fact that this occurrence defies the generally accepted investment strategy to buy low and sell high, one cant help but wonder why attending social gatherings during the real estate boom years of 2005 and 2006 would inevitably lead to engaging in a conversation about someones real estate investment and the promise of future profits to be derived from the venture. Its not all that surprising that many of those recently boasting about their real estate exploits have softened their tone while seasoned investors, dormant for the past six or seven years, have begun to once again start purchasing lucrative investment property. Despite news about the recent real estate and financial industry tribulations that the public is seemingly bombarded with every day, the last few months of 2008 provided a relatively quiet, yet dramatic, surge in real estate sales.
The National Association of REALTORS (NAR) has reported that residential home sales have increased by an astonishing 115% when the last quarter of 2007 is compared against the same period for 2008. Have the experienced investors purchasing all of this property been ignorant to the steady stream of media reports warning of declines in real estate values? The answer is no, they have simply been waiting for the right time to emerge like a small swarm of locusts to steadily reap houses for sale like crop. In fact, their buying presence has been so prominent that national housing inventories of homes for sale have significantly decreased during 2008s final quarter, a reliable sign that demand is beginning to once again catch up with supply.
But how do these brave souls know precisely when they are buying at the bottom of the market? Do they throw caution to the wind and simply force themselves to muster the courage to purchase property despite the fact that values may continue to decline in the future? The simple answer is that savvy real estate investors do not purchase property with the expectation of immediate appreciation in value. Rather, investment real estate should be purchased based on the propertys potential for positive cash-flow. Positive cash-flow occurs when a propertys rental income exceeds the owners costs to maintain the property. Consequently, when a property provides a positive cash-flow, a decline in real estate prices is of little concern since the owner can simply enjoy the income his property generates until the market revives and the property can be sold for further profit.
During the real estate boom years our nation became blindly infatuated with the appreciation of real estate prices, which represents the amount of value that a property will gain over time. So called house flippers brazenly leveraged money to buy numerous properties with the expectation that their values would increase, thus enabling them to sell the properties for handsome profits in a short period of time. These novice real estate quasi-moguls, often addicted to HGTV and other television shows created to promote the industry like Flipping Out and Flip This House, regularly failed to consider property cash-flows prior to making their purchases. Why bother when real estate values will always continue to appreciate, thereby alleviating the need to hold properties for long? After the housing bubble burst, many of these speculators realized that they shouldn’t have built their investment houses out of sticks, and social gatherings became pleasant once again.
Seasoned investors build their investments out of bricks by carefully and conservatively analyzing a propertys cash flow potential prior to purchasing. The primary reason that these investors have been sitting on the sidelines for many years is that most real estate prices have been far too high to generate positive cash-flows and a reasonable return on investment. It hasn’t been until recently that both residential and multi-family housing prices have retreated to levels where rental income will cover monthly mortgage payments and other operating costs. Further, with the construction of new housing and apartments decreasing to a virtual halt, a still rapidly growing local population, and many families displaced from foreclosed properties, an investment propertys owner is free to choose from a tenant base that is now stronger than ever. One can clearly see why a decline in real estate sales prices typically accompanies an increase in monthly rental prices.
No matter what the year 2009 holds in store for real estate investing, it is essential to remember that investing in real estate should always be considered over a long term. Although the opportunity for a quick flip may present itself, the distinguishing benefit to sound real estate investments is their ability to provide income no matter what the economy throws your way.
BUYING AND SELLING PROPERTY IN AN ORGANIZED MANNER
More than 95% real estate leads are generated online in the US and developing countries like India will soon follow suit. So it is very important to have a listing portal that helps agents and brokers to promote their listings. It is very important to be a part of this vibrant and ever-growing business field of real estate brokerage. However, it is even more important to be part of a successful global network. Real estate industry professionals need to work on a business model that has successfully been employed in major countries across the world. To overcome the inefficiencies of the real estate industry, it is important to have the use of training, technology and be ahead of its time. The RE/MAX policies of cooperative growth and shared office expenditure, ensuring that a person can focus more of his time on earning and doing transactions, is a collaborative way of doing business and making sure that everybody wins.
PROBLEMS IN THE CURRENT REAL ESTATE BROKERAGE SYSTEM
1.Less inventory: The number of sellers one represents in the market
2.Less leads: The number of buyers one represents in the market
3.Budget to advertise: Agents and brokers have little money to spend on advertising.
4.No training on real estate broking : Lack of knowledge of the real estate industry
5.Staff retention: Employees do not stay for long in the system.
6.Staff monitoring: Employees need to be given more time in terms of monitoring.
7.Staff motivation: Motivation levels fluctuate as per the market dynamics.
8.Recognition: A small office cannot recognize the efforts of a good employee.
9.Restricted network : Network of a real estate broker is restricted to his local friends at the most
10.No trust: Customers do not trust the average real estate broker, as agents are normally seen as dishonest.
11.Unorganized market: The property market is unorganized with no entry barriers and no regulatory body.
12.No international presence: Lack of reach to international locations plagues property agents.
13.Builders have to spend a lot of advertisement: Since selling agents are not coordinated, builders are spending a lot of money to promote their projects.
WHY A REAL ESTATE PORTAL IS NOT THE SOLUTION TO YOUR PROPERTY NEEDS
There are many real estate portals competing online in India right now, such as MagicBricks, 99Acres, Makaan and IndiaProperties. These property websites constantly vie for the attention of real estate buyers, sellers and tenants.
Online property portals on the Internet were established with an agenda to remove or bypass real estate brokers and agents from transactions taking place in the industry. They allow customers to list properties directly with the idea of eliminating the broker from the chain. However, nobody knows better than a broker that only a well-established property agent can give local market knowledge, help with paper work and find the best deal for the client at the lowest possible cost. It is difficult as well as unreasonable to try and eliminate agents and brokers out of the network.
HOW REAL ESTATE VALUERS CAN BE PART OF AN ORGANIZED REAL ESTATE BROKERAGE SYSTEM
The primary job of the broker is to sell the property he lists. The value at which a property is listed is of prime importance. If the property is undervalued it will sell fast but the seller will lose substantially. If the property is overvalued then it will take a long time to sell and the seller will lose on interest with increased opportunity costs and the may miss an ideal investment prospect.
A valuer can not only list the property in the market at the right price, he can also convince the customer that the price is perfect as he has the precise knowledge as to why the property is valued at that price.
KEY ADVANTAGES A REAL ESTATE VALUER HAS COMPARED TO A REAL ESTATE BROKER
Trust: A real estate valuer gets the trust of the seller as he is considered to be an independent third party doing the valuation of property.
Knowledge: The valuation of a property requires in-depth knowledge of various aspects to valuation and knowledge of the field. This creates an entry barrier to anyone who wants to enter the field of real estate.
Mandate: Generally, a seller will not get multiple valuations done for the property. So, the awareness that the property might be up for sale is available only to the real estate valuer.
Early Involvement: A real estate valuer gets involved in the transaction much before a real estate broker. This gives a bigger advantage to him in both customer interaction as well as the whole property deal process.
Expectation Handling: A real estate valuer can set correct expectations in the mind of the seller, helping in the negotiation process which ultimately helps in faster transaction.
Allied Services: Real estate brokerage can be reflected as an allied service or value added service to the main earning business vertical of real estate valuation. Customers increasingly prefer a one-stop-shop that provides a centralized solution to their end-to-end real estate requirements.