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Exam (elaborations)

Real Estate 306 Exam 1 Question with 100 % correct answers | Verified

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  • Course
  • Real Estate 306
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  • Real Estate 306

developer's key objective - generate risk-adjusted returns that create value and are able to manage risk balance of land use - quiet enjoyment (private), eminent domain/takings/just compensation (public purpose), rights of police power, due process 5th, 5th, 10th, 14th amendments building code...

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  • August 2, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Real Estate 306
  • Real Estate 306
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PatrickKaylian
Real Estate 306 Exam 1
developer's key objective - generate risk-adjusted returns that create value and are able to
manage risk



balance of land use - quiet enjoyment (private), eminent domain/takings/just compensation
(public purpose), rights of police power, due process

5th, 5th, 10th, 14th amendments



building codes - older than zoning; fire, sanitation and injury



building shapes and sizes determined by - legally permissible, physically possible, market feasible



cash flow drivers - revenue

operating expenses

recurring capital expenditures



challenges of public use planning - limited experience where zoning had very limited function as it
was focused protecting single-family houses



components of total project costs - land purchase price

cost of construction (hard costs)

secondary cost (soft costs)



comprehensive plans - projected future population growth, requirements for water and waste
disposal, projected needs for public services (schools, parks and rec), projected demand for various land
uses (public, residential)

, condominium - sole ownership of unit or unit air rights and tenancy in common ownership of
common elements, found in condominium declaration



conveyance of real estate interests - real property is a complex bundle of rights

rights to land are enduring (rights today are because of transactions long ago)

land is a continuous surface (needs accurate property description)



cooperative - personal property (shares in a corporation and rights they convey) deemed to be
real estate



covenant against encumbrances - no encumbrances except as noted in deed (liens, easements)

bad side of partial taking - clear loss of economic value, purchased based on current zoning/rules
and rules chanvge ex-post



covenant of quiet enjoyment - no one with a better claim to title



covenant of seizin - grantor has good title and right to convey it



deed - special form of written contract used to convey a permanent interest in real property, must
be in writing upheld by a court



deed requirements - name of grantor and grantee

dated and signed

consideration

words of conveyance

delivery

receipt of delivery

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