The presale contract is a popular property selling method that allows a buyer to default on the remaining payment and/or a developer to abandon a project. Using a simple two-period game theoretical model, we derive a closed-form pricing equation for a presale contract that explicitly accounts...

Real Estate Valuation Theory is organized around five categories of intellectual contribution to the whole-appraiser decision making and valuation accuracy, application of nontraditional appraisal techniques such as regression and the minimum-variance grid method, appraising contaminated...