Buying and selling commercial real estate is a lengthy and complex undertaking from diligence and letters of intent to mortgage agreements and, ultimately, the underlying purchase and sale agreement. Reps and warranties have become more extensive and exacting in detail. Financing contingencies have become lengthy and complex. Due diligence has become lengthier, more invasive and costlier – or barely permitted at all, in particularly “hot” markets. Managing all these elements is demanding. This program will provide you a practical guide to the transactional cycle of buying and selling commercial real estate.
- Planning the process – letters of intent, negotiations, closing process
- Due diligence depending on the type of deal – title, environmental, finance issue
- Understanding the minefield of seller’s reps and warranties
- Buyer and seller’s covenants in a volatile market
- Deposits of money
- Issues for income producing properties, multiple family properties, and distressed properties
- Finance issues in operative agreements, including finance contingencies, and working with commercial lenders
- Conditions to closing and reducing the risk of not closing
- Post-closing issues, baskets, escrow and contingencies
- Bankruptcy issues in operative agreements
to review the Cancellation Policy.