Junior Mortgage
~ Any mortgage recorded after the first mortgage .
Deficiency Judegement
~ Money still owed by the borrower if the foreclosure sale does not bring in
enough money to pay the debt owed
Demand deposits
~ These banking deposits- such as those made to a checking or traditional...
✓~ Includes hotels motels golf courses resorts sporting arenas movie theaters and
restaurants (Requires hands on management)
industrial property rights
✓~ Includes heavy or light manufacturing warehouse and distribution. Clear height
is a key consideration
Healthcare properties
✓~ Includes doctors offices urgent care clinics hospitals require a specialized
outfitting
Office buildings
✓~ Includes Class A, B or C; may be high rise or low rise
four elements of a legally valid contract
, ✓~ 1. Competent parties
2. Mutual agreement (offer and acceptance)
3. Lawful objective
4. Consideration
Statute of Frauds
✓~ Dictates that all contracts must be in writing
four elements of a legally valid contract
✓~ 1. Competent parties
2. Mutual agreement (offer and acceptance)
3. Lawful objective
4. Consideration
Statute of Frauds
✓~ Dictates that all contracts must be in writing
Retail Properties
, ✓~ Includes store fronts, shopping centers, malls
Residential properties
✓~ Properties design for dwelling
Commercial properties
✓~ Property is designed for commerce And profit
Specialty properties
✓~ Includes mixed-use, planned-unit development and transit-oriented
development
mixed-use development
✓~ development that combines housing and businesses in a single building
Planned Unit Development (PUD)
✓~ A high density project with mixed zoning (e.g. retail or residential healthcare
etc.)
, Transit-oriented development (TOD)
✓~ development focused around a transportation hub
Class A office building
✓~ These buildings have high-quality standard finishes state of the art systems
exceptional accessibility and a definite market presence
Class B office building
✓~ These buildings have adequate systems and finishes that are fair to good for
the area
Class C office building
✓~ These buildings are aimed at tenants requiring functional space at below
average rents for the area
Farm broker
✓~ Deals already buying and selling farms. Farms can range from small family
farm to a corporate farm and thousands of acres. Hornberger must be well-versed in
all six of agriculture as well as state and federal taxes including those related to farm
subsidies
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