Purchase Of Real Estate Research Articles

Financing the Purchase of Real Estate: the Choice between a Mortgage Loan and a Savings and Building Cooperative

Financing the Purchase of Real Estate: the Choice between a Mortgage Loan and a Savings and Building Cooperative

Forensic Account in Public Finance Management

The growing spate of corruption, fraud and financial crimes with devastating consequences on companies and national economies has compelled regulatory changes across national, regional and even international boundaries. In fact, the general perception was that such vices were largely an internal event, primarily impacting the organization's net earnings or earnings per share (EPS). They were not conceived to have a major impact in the way businesses were conducted. Unfortunately, that perception has considerably changed in recent times. Today, the world understands better with organizations knowing that the negative effect of these offences goes beyond the bottom line of any organisation. Basically, these vices serve to attenuate optimum pursuit of organizational goals; they limit organizational ability to economize on scarce resources, including information processing and decision-making capability, in transaction cost terms; they promote information hoarding, opportunism, bounded rationality and distortions. The associated negative publicity of corporate fraud breeds high reputational risks, stifles business prospects, and threatens business survival. These are the core transactional issues on which a comparative assessment of the rise of fraud examination and forensic accounting in Africa turns. Corruption is rife in state-owned enterprises (SOEs) and government agencies which have become a conduit by Government officials, legislators and politicians to divert funds through inflated contracts, bloated staff strength, and overpriced procurement of goods and services. The fraudulent monies would then be laundered into the financial system through concealed deposits in private pseudonym accounts, ‘non-existent corporate’ accounts, purchase of real estate, or donations to political parties, religious bodies and charities involved in the scheme. (Herbert, Tsegba, Ene and Onyilo 2017:2) Nowadays, the audacity of corruption is not just an act of the mind but a deliberate one perpetrated with total disregard for the law and its consequences. As fraudsters have become more dangerously creative with devastating consequences, so has the configuration of fraud investigation become increasingly sophisticated with encouraging results. Forensic accounting, which has evolved to combat the growing rate and economic consequences of fraud and abuse, financial crimes and corruption, encapsulates specialized knowledge and specific skills to stumble up on the evidence of economic transactions. (Joshi, 2003). Traditional accountants, however effective they may be, are not necessarily forensic accountants. The global economic consequences of recent accounting scandals juxtaposing the increasing spate of fraud and corruption have occasioned new national and international antifraud and anti-money laundering legislations. These have created a huge demand for fraud investigation and forensic accounting work. Increasingly, many professional accountancy firms are establishing specialized fraud examination and forensic accounting units to keep up with the workload. At the same time, organizations and government agencies are finding it difficult to recruit experienced and highly skilled forensic accountants and fraud examiners. (Herbert et al. 2017:5) This last point will be developed in the next paragraph. This paper is addressing the need for forensic accountants with the public finance management reforms. The need and the definition of forensic accounting will be developed. The public financial management is discussed along with various actions for an effective implementation.

The effects of locational factors on the housing prices of residential communities: The case of Ningbo, China

Residential communities are the basic living units in Chinese cities. Housing prices are closely associated with the community location and surrounding support facilities. When selecting satisfactory residential accommodation, potential real estate purchasers prioritize the community location in a city at the macro-level and then consider other micro-factors (i.e., the floor, orientation, structure, etc.). This paper attempts to explore the relationship between housing prices and locational factors at the community level. We collect the current market prices of 545 residential communities built in the last decade in Ningbo, the second largest city in Zhejiang Province. Then, thirteen locational factors of five dimensions are identified to research their influences on housing prices. In the process of selecting certain locational variables, both extant features and additional features (i.e., planned ones) are considered. The geographic field model is introduced to quantify the external effects of locational factors, due to its advantages of producing more accurate results than that of traditional distance-based measure methods. Then, regression analysis is performed based on the average housing prices of residential communities and explanatory variables by the ordinary least squares model and the geographically weighted regression. The regression coefficients demonstrate that the externalities of parks, lakes, department stores, banks, secondary schools and rail transit have significant but spatially non-stationary effects on housing prices. The results provide references for local real estate planning departments and potential real estate purchasers.

Due Diligence as the Tool for the Reliability of the Counterparty

Doing business involves entering into contractual relations not only with the clients, whose business reputation and financial capabilities have been tested for years, but also with the suppliers, vendors and lessors. Quite frequently there are lucrative offers from previously unknown companies, or sometimes there might be a need for transactions of purchase and sale of real estate, stocks or other assets on the open market, the suppliers and contractors often get changed. In order to form the most complete picture of partners and contractors from the point of view of the financial reliability aspect as well as the assessment of the prospects for further cooperation, the due diligence procedure is organized.The relevance of the researched theme will provide an opportunity to protect the organization from fraud on the part of the partners and contractors, which will contribute not only to the reduction of the financial risks of the company, but also to the increase in economic security of the organization as a whole.The authors have covered the acute aspects of the organizational process of due diligence in various economic entities. The methods of the research were as follows: the method of analogies, grouping method, analysis, synthesis, comparison, systematic and logical approaches. The sources of information were: the legal framework and the annual reports of the international companies.

Anonymous Capital Flows and U.S. Housing Markets

Prior to 2016, all-cash purchases of residential real estate were a key loophole in US anti-money-laundering (AML) regulations. Beginning in January 2016, the Department of the Treasury announced orders requiring the owners of LLCs purchasing high-end residential real estate to identify themselves to authorities. We use a new detailed transactional dataset to identify all-cash purchases by corporate entities before and after the introduction of this new AML policy, and thus estimate the size and impact of anonymity-seeking capital on U.S. housing markets. We first find that all-cash purchases by corporate entities form approximately 10% of the dollar volume of housing purchases in our sample prior to the change in policy. After anonymity is no longer freely available to domestic and foreign investors, all-cash purchases by corporations fall by approximately 70%, indicating the share of anonymity-seeking investors using LLCs as “shell corporations.” Testing for potential distortionary market impacts, we find subsequent declines in luxury house prices in counties targeted by the policy relative to untargeted counties. Our findings are relevant to the (mis)measurement of international net investment flows, and to understanding a demand for anonymity that may impact certain asset classes (art, cryptocurrencies) regardless of their risk/reward characteristics.

Electroless Under Bump Metallurgy Deposition on Batches of Singulated Semiconductor Die

Multi project-wafers (MPWs) offer cost-effective options for fabrication of application specific integrated circuits (ASICs) produced for entities not requiring a large volume of die from a dedicated full wafer run at an advanced semiconductor foundry. MPWs consist of a mixture of different devices shared on a single wafer; thereby reducing cost of processing by allowing the purchase of real estate allotted to each device. This practice is advantageous for those in academia or government that often only require small quantities of devices for research or niche applications. With many teams investing in a single wafer run, strict design rules must be followed on these microelectronic chips. In particular, the metal used in the final routing layer must be AlCu. This AlCu metallization is not compatible with solder connections for flip chip bonding applications because solder is unable to wet AlCu. To allow MPW die integration with flip chip bonding applications, a solder compatible under bump metallization (UBM) must be deposited on top of the AlCu. This UBM deposition can be achieved through physical vapor deposition and subsequent electrolytic plating into a photolithography defined plating mold. Unfortunately, photolithographic processes are only compatible with full wafers and not with singulated die. This leaves electroless deposition methods such as immersion tin or zinc followed by electroless nickel, electroless palladium, immersion gold (ENEPIG) or electroless nickel and immersion gold (ENIG) as the only options for depositing a wettable UBM on MPW die. Electroless deposition can be performed with a single die at a time, however this process is not well suited for manufacturing. In this work, we have developed a scheme for batch level UBM deposition on singulated semiconductor die by coupling temporary bonding with electroless deposition. A unique batch approach is proposed to electrolessly deposit UBM to terminal AlCu on MPW die. Preliminary Si sidewall passivation is used to eliminate metallization of unintended surfaces in subsequent steps. Temporary custom fixturing onto a carrier substrate is leveraged allowing a variety of devices to be processed like a full wafer, establishing feasibility for industrial scaling. The bulk aluminum oxide is then solubilized by chemical etching and replaced by reduction of Sn as a base layer for ENIG and ENEPIG processes as seen in Figure 1. After metal deposition, devices are liberated from the temporary mounting substrate making them ready for flip chip bonding. Due to creating an UBM through electroless processes, options for interposer bumps are limited and outlined in Figure 2. Solder bonds from Cu pillars topped with SnAg or electroplated with either AuSn or SnAg allow a reflow solder attachment to complete electrical contact between the two chips. Electroplated Au bumps allow for a thermocompression bond to be made between the two chips. Both methods have benefits based on circumstance. Reflow solder is advantageous for fragile chips that cannot withstand the high pressure associated with thermocompression. Cu pillars are also attractive for RF devices in that Cu offers reduced electrical parisitics. Thermocompression is advantageous because it does not require high level of uniformity in the final Au bump. In this presentation, we will provide details on the passivation, batch level handling process, uniformity, and yield statistics for the electroless deposition. Supported by the Laboratory Directed Research and Development program at Sandia National Laboratories, a multimission laboratory managed and operated by National Technology and Engineering Solutions of Sandia, LLC., a wholly owned subsidiary of Honeywell International, Inc., for the U.S. Department of Energy’s National Nuclear Security Administration under contract DE-NA-0003525. Figure 1

Instrumenty prawne reglamentacji obrotu nieruchomościami rolnymi w Polsce na tle regulacji wybranych państw europejskich

The article presents selected legal instruments affecting the turnover of agricultural real estate in Poland. Changes since 2016 have introduced not only a new legal regime, but also numerous restrictions on the purchase of agricultural real estate. In some respects, they correspond to the resolution of the European Parliament, which encourages EU Member States to protect the agricultural nature of real estate. The current legal status, however, significantly affects the Treaty free movement of capital. In addition, it limits constitutionally protected property. The Polish regulations have been presented against the background of the regulations of selected European countries.

Countering abuses at the granting of additional measures of state support to families with children: the possibilities of the legislator and law enforcement practice experience

The subject of the article is abuses at the granting of additional measures of state support to families with children and measures of its prevention The purpose of the article is to analyze legal rules governing the provision of additional measures of state support for families with children, to determine their completeness and adequacy for countering abuses in this area. Characteristic of the problem field. The implementation of the legislation on additional measures of state support for families with children, has proved to be connected with widespread attempts to use the maternity (family) capital by the persons who do not have the right, or to use it contrary to the restrictions established by law. Analyzed legislation has shortcomings that create the conditions for illegal actions. Methodology. Both general scientific methods (analysis, synthesis, description) and special scientific methods (comparative-legal and formal-legal methods) were used in the research process . Results. Countering abuses requires improvement (changes and additions) of the law governing the provision of additional measures of state support for families with children. Refinement and extension of powers of the Pension Fund’s of the Russian Federation bodies in this area, however, inevitably entails an increase in the number of organizational actions performed by these bodies when considering applications of the entitled persons. The flip side of strengthening the fight against illegal actions in this sphere can also be the limitation of the possibilities of the entitled persons and the extension of discretion of authorized bodies. When the effective legislative means are absent the judicial practice plays a prominent role in preventing the illegal use of maternity (family) capital. In particular, the qualification of improvement of housing conditions as a necessary result of the contract of purchase and sale of real estate became one of the obstacles to illegal receipt of maternity (family) capital.

On Interpreting Some Facts of William Shakespeare’s Life and Works: “The Phoenix and the Turtle” and the Purchase of Real Estate in London

On Interpreting Some Facts of William Shakespeare’s Life and Works: “The Phoenix and the Turtle” and the Purchase of Real Estate in London

Fiduciary Purchase of Real Estate for the Account of Another, Knowing Seller, and Buyer–Fiduciary Titleholder’s Conversion

Fiduciary Purchase of Real Estate for the Account of Another, Knowing Seller, and Buyer–Fiduciary Titleholder’s Conversion

Cross-border planning for real estate: USA

This article deals with the cross-border tax issues resulting from (i) the purchase of real estate, (ii) the holding of this real estate and its renting out to lessees and (iii) a sale of the real estate at some point in time in the future, as well as (iv) gratuitous transfers through gifts or by way of death, and all of this under the tax law of the USA. The real estate may be purchased directly or indirectly through the acquisition of shares in a local company holding the real estate. The purchaser of the real estate may be a non-resident company or a non-resident individual.

Cross-border planning for real estate: UK1

This article deals with the cross-border tax issues resulting from (i) the purchase of real estate, (ii) the holding of this real estate and its renting out to lessees and (iii) a sale of the real estate at some point in time in the future, as well as (iv) gratuitous transfers through gifts or by way of death, and all of this under the tax law of the UK. The real estate may be purchased directly or indirectly through the acquisition of shares in a local company holding the real estate. The purchaser of the real estate may be a non-resident company or a non-resident individual.

How Do Personal Real Estate Transactions Affect Productivity and Risk Taking? Evidence From Professional Asset Managers

Housing decisions require intensive attention from households. However, the existing housing literature has not examined the potential connection between costly and time-consuming real estate purchases and the behavior and work productivity of individuals involved in the housing search and acquisition process. In addition, micro evidence on the link between home purchase decisions and the investment/risk choices of households is limited and inconclusive. Our study fills these gaps in the literature by examining the real estate acquisitions of professional asset managers. Overall, we find evidence that major purchases, such as real estate acquisitions, lead to distractions, as evidenced by reduced performance, less active trading, and increased susceptibility to behavioral biases such as the disposition effect. We also find evidence that managers tend to increase the riskiness of their professional portfolios after real estate purchases. This increase in risk is concentrated in cases of purchases of investment properties and purchases using extensive leverage, suggesting consistent risk-taking appetites across personal and professional portfolios. These findings suggest that housing transactions may shed light on the decision making, risk taking, and work productivity of a broad set of homeowners, such as asset managers, corporate executives, and even rank and file employees.

Determinants of Borrowing Capacity of Small Holder Farmers in Cross River State, Nigeria

This study examined the determinants of borrowing capacity of small holder farmers in Cross River State, Nigeria. A total of 455 farmers were randomly selected through a stratified random sampling technique. The study data was collected by well-structured questionnaire. Statistical tools such as simple descriptive statistics (table, frequency, percentage and mean) and a multiple regression analysis were used to examine the data. The results indicate that 60% of the farmers source their credit from informal financial sector while the mean borrowing capacity of the farmers was N550,500. The regression’s result demonstrated that the determinants of the farmers borrowing capacity included asset value, debt outstanding, and value of equity in asset, educational index, farm size and family size. The study further revealed that the major problems facing farmers are high interest, lack for collateral, short repayment periods, among others. Therefore, it was recommended that small holder farmers should increase their financial asset and Real estate purchases, while financial services providers should carefully study the determinants favorable for lending to small holder farmers in order to increase agricultural financing.

Migrant Workers’ Willingness to Purchase Houses on the Working Sites and Its Influencing Factors—Take Guangzhou as an Example

With the development of urbanization in China, more and more migrant workers are working in cities, gradually becoming an important part of urban construction and social development. Guangzhou is one of the major influxes of migrant workers. Migrant workers want to integrate better into urban life. Housing is an important condition. In order to regulate the purchase of real estate and migrant workers, this paper studies the willingness of peasant workers in Guangzhou to purchase houses and the influencing factors. This paper mainly uses the survey method to collect the collected data using SPSS17.00 for statistical analysis of the sample, interactive analysis of the contingency table, and two-factor correlation analysis, to obtain the willingness of the migrant workers to purchase houses at the working sites and its influencing factors. Mainly from four aspects to analyze the migrant workers in the workers’ purchase intention and its influencing factors: Self-characteristics, family characteristics, employment characteristics and working sites characteristics. The results show that the older migrant workers are, the weaker willingness to purchase houses, the higher migrant workers’ level of education, the higher income level, and the higher job satisfaction, the stronger willingness to purchase houses. The higher ratio of migrant workers’ non-labour population is, the weaker willingness to purchase houses. The migrant workers who have contracted land in their hometowns are more reluctant to buy houses at the working sites. Migrant workers have friends and relatives in the working area. The more satisfied they are with the cultural environment and convenience of transportation, the stronger willingness to purchase a house. This article points out that migrant workers should be provided with guidance in the purchase of houses on the working site, improve the ability of migrant workers to purchase houses, increase the construction of affordable housing, solidify rural rights and interests, encourage migrant workers to “carry capital into the city”, improve the vocational training system, and strengthen migrant workers. Employment ability allows more migrant workers to have the ability to purchase homes on the working site and increase their willingness to purchase, thereby increasing their sense of well-being.

Cross-border planning for real estate: France

This article deals with the cross-border tax issues resulting from (i) the purchase of real estate, (ii) the holding of this real estate and its renting out to lessees and (iii) a sale of the real estate at some point in time in the future, as well as (iv) gratuitous transfers through gifts or by way of death, and all of this under the tax law of France. The real estate may be purchased directly or indirectly through the acquisition of shares in a local company holding the real estate. The purchaser of the real estate may be a non-resident company or a non-resident individual.

Early access to occupational pension plans

Occupational pension plans help people to maintain their living standards after retirement. This article looks at differences in the design of occupational pensions in Belgium and the USA, and more specifically, at early access. The article shows that different cultural backgrounds influence occupational pension systems. Occupational pension plans are intended to provide retirement income, and assets should therefore not be used for non-retirement purposes such as holidays Credit card debts. However, both Belgium and the USA provide mechanisms for early access. In Belgium, early access to an occupational pension plan is, in principle, prohibited. The only exception is for the purchase of real estate since this fits within the Belgian pension philosophy that retirees should not have to spend any of their retirement income on rent. It is culturally established that pensions and house ownership are inter-connected. In the USA, early access is not prohibited but it is often discouraged. Leakages from occupational pension plans must be limited, but some flexibility needs to remain. Since participation in occupational pension plans ought to be encouraged, (too many) restrictions on access may discourage individuals from making contributions to those plans. This is the reason why there is greater flexibility towards early take up in the American private pension system.

Sale and purchase of real estate in ancient Russian law

Contract on sale and purchase of real estate is one of the most important obligation contracts, which needs to be concluded in writing. In the ancient Russian law, it was regulated by several provision of the Pskovska Sudna Gramota (PSG), a collection of normative acts of Medieval Russia (1397-1467). Numerous preserved and published ancient Russian sale and purchase private law documents confirm that the mentioned PSG provisions were applied in practice. In the ancient Russian law, they were known as the 'kupche gramote' (sale and purchase documents). Over 120 preserved documents are the best testimony of the fact that the written sale and purchase of real estate contracts were being concluded. It mostly refers to the cities of Novgorod and Pskov, the two significant centers in the north-west of Russia, which enjoyed a high level of autonomy from the central authorities. The majority of documents had the unified structure and the standardized legal form by which they were written.

Sprigg Lane (a)

The president of a natural-resource exploration company has to decide whether to invest in a new drilling opportunity. He already has a spreadsheet that projects the most likely scenario for the well and calculates the NPV and internal rate of return. However, six uncertainties are discussed by the president and another potential investor. He also has prepared a spreadsheet for a couple of downside scenarios--one where gas is not able to be produced after the well is drilled and a second where gas is produced but all other uncertainties are at their 1% worst possible values. A student worksheet file is available for use with this case. Excerpt UVA-QA-0372 SPRIGG LANE (A) May 19, 1988, was a beautiful day in Charlottesville, Virginia. Tom Dingledine could see some cows grazing in the pasture on the rolling hillside outside his window. He was grateful for the bucolic setting, which was made possible by his doing well with the projects he managed, one of which now required some concentration. Dingledine was the president of Sprigg Lane Natural Resources, a subsidiary of the Sprigg Lane Investment Corporation (SLIC). The decision at hand was whether to invest in the Bailey Prospect natural gas opportunity. The Company Founded in 1961, Sprigg Lane was a privately held investment corporation. It had become a diversified corporation comprising two major groups. The first was devoted to manufacturing high-quality home furnishings. Its masthead company was Virginia Metalcrafters, which produced handcrafted brass giftware. Other companies in the group included an outdoor-lantern company in Maine and an antique-reproduction furniture company in Maryland. With the establishment of the National Legal Research Group in 1970, another major group, the Research Group, was started. Since then, four other research companies had been added in the fields of consumer-product marketing, computer software, tax research, and investment financial analysis. The recent formation of the Sprigg Lane Development Corporation, which was involved in the purchase and development of real estate, brought the total number of Sprigg Lane's subsidiaries to nine. SLIC sales for 1987 approximated $ 30 million, and it employed more than 525 people. . . .

Compensation in Residential Real Estate Purchasers’ Decisions

Abstract Predicting demand on the residential real estate market and the behavior of the purchasers requires a wide knowledge of both the economic mechanisms and psychology of decision-making. Decisions on the real estate market are often made by people without professional skills, and using simplified strategies. However, the decision-making process, on top of its heuristic nature, is dynamic and changing. As a result, a discrepancy in the preferred characteristics of planned and actually bought real estate can be observed. Such a discrepancy can be explained with the occurrence of the compensation process. The aim of this article was to recognize and describe the compensation process on the example of the suburban residential real estate market. The aim was achieved by analyzing the preferences of potential buyers in terms of particular characteristics of the location of suburban plots destined for single-family housing (respondents divided into age groups: 25 and 26-40), analyzing the real settlement trend in the suburban zone (the result of actual transactions) and comparing the results, including compensation.