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Essay Available:
Pages:
2 pages/β‰ˆ550 words
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4 Sources
Style:
MLA
Subject:
Law
Type:
Essay
Language:
English (U.S.)
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$ 9.72
Topic:

Brokerage Agreement for the Proposed Lease Transaction

Essay Instructions:

Now you have background about brokerage commissions for a sale of property (% of price) and space leases (% of rent). You have also learned about ground leases and their differences with space leases.   
Assume you own the land and want to explore entering into a long term ground lease with a fixed rent of $100,000 a year for the first 25 years and a right of reset every 25 years based on increases in fair market value) where the tenant can cancel if the increase is unacceptable.  
What points would you raise with your attorney to have included in a brokerage agreement for the proposed lease transaction.
Please write a two page bullet point summary ( no need to have intro and conclusion) !! to give to your attorney of the issues you think need to be discussed, especially with guidance on the correct commission structure!!!
Need to reading and look at all files: the Brokerage Agreement for the sale transaction; and the space leasing commission schedule; the brokerage slides and also in background materials.

Essay Sample Content Preview:
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Legal Case Summary
Based on the case scenario, I would raise the following issues with my attorney for inclusion in the brokerage agreement for the proposed lease transaction.
* The attorney would need to guide the splitting of commissions. The real estate brokers are not allowed to pay a commission, fee, or other compensation received by the broker to any individual for any services, aid, or help rendered at any particular place by such individual to the broker in selling, exchanging, renting, negotiating, or leasing a loan on any real estate, including the condominium or cooperative apartment resale unless such an individual is a duly licensed real estate salesperson regularly linked to the such broker or any duly authorized real estate broker or an individual constantly engaging in the real estate brokerage commercial engagements within a state outside of the New York (Legal Principles Background Materials 11). There is the possibility that such regulations have changed when the ground lease is executed or reset after 25 years.
* The attorney might also offer guidance on services or issues leading up to the transaction and sustenance following the lease execution (Legal principles slides). For example, the attorney services might include experience in market analysis, transaction appraisal, negotiations, due diligence, executed lease delivery, professionals’ recommendations, and post-transaction execution activities.
* The issues mentioned above can be categorized into more specific activities. Market analysis might include market averages, comparable lease transactions, market size, absorption, competitors’ locations, market updates, and particular listings that meet the tenants’ needs.
* Transaction appraisal will include the real estate brokers’ suggestions, financial assumptions, as well as offer and counteroffer analyses.
* Due diligence might include employment of restrict...
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