Successfully Handle Commercial Real Estate Transactions
Do you know how to confidently navigate through commercial property transactions – dotting all your i's, handling issues that arise, and using proactive strategies to prevent future disputes? This fundamental course will give you the tools you need to handle each step of the transaction. Don't miss this opportunity to get the latest information and techniques to ensure a smooth real estate deal. Register today!
- Stay up to date on recent real estate developments and new laws.
- Recognize the scope of the seller's disclosure obligation and the buyer's due diligence responsibilities.
- Walk through the essential components of the purchase contract, including representations and warranties, contingencies, indemnity provisions, environmental provisions, etc.
- Determine the best course of action for handling title defects and encumbrances.
- Make reviewing land surveys easy by knowing the specific zoning and land use issues to look for.
- Gain insight into how the title insurance policy is prepared and what it typically covers.
- Anticipate problems and think on your feet to resolve issues that may arise on the date of the closing.
- Know what procedures need to be completed after the closing paperwork is signed.
- Maintain an ethical practice by avoiding conflicts of interest and disclosure pitfalls.
- STEP-BY-STEP THROUGH THE PURCHASE CONTRACT
8:30 - 10:00, Michael A. Brown
- Initial Considerations, Due Diligence Responsibilities and Disclosure Obligations on Commercial Real Estate Transactions
- Reviewing Pre-Negotiated Terms and Conditions
- Essential Elements of the Contract
- Parties Such as Business Entities and Trusts
- Granting Clause
- Legal Description of Property: Avoiding Pitfalls
- Purchase Price
- Real Estate Tax Proration
- Earnest Money Escrow
- Representations and Warranties
- Contingencies/Closing Preconditions
- Indemnity Provisions
- Environmental Provisions
- Default and Remedies
- Other Miscellaneous Provisions
- TITLE INSURANCE AND SURVEY REVIEW: WHAT YOU NEED TO KNOW
10:15 - 11:00, Michael A. Brown
- The Title Commitment
- Requests and Revisions to Consider
- Survey Review: Why and What to Look For (Zoning, Setbacks, Easements, Right-of-Way Issues, Etc.)
- Beneficial and Burdensome Easements
- Determining the Best Course of Action When Dealing With Title Defects and Encumbrances
- The Title Policy and Endorsements
- FINANCING COMMERCIAL PROPERTY ACQUISITIONS
11:00 - 12:00, Tina M. Donnelly
- Standard Loan Documents
- Security Agreements
- Assignments of Leases and Rents
- Additional Guarantees
- Drafting Resolutions to Address Authority Issues
- THE CLOSING
1:00 - 2:00, Michael A. Brown
- Closing Checklist
- Closing Documents and Procedures: A Walk-Through
- Types of Deeds
- Closing Statement
- Other Forms
- Types of Closings: Escrow and Roundtable
- What to do When Good Closings go Bad
- POST-CLOSING PROCEDURES
2:00 - 2:55, Michael A. Brown
- Disbursement of Funds and Escrow Items
- Preparing the Closing Package to Send Back to the Lender
- Recorded Documents From the Recorder
- Policy Preparation
- Release of Liens and Encumbrances
- RECENT DEVELOPMENTS AND LEGISLATIVE UPDATE
3:10 - 3:40, Paul A. DePascale
- ETHICAL CHALLENGES IN REAL ESTATE
3:40 - 4:40, Amelia A. Bower
- Attorneys' Fees Disputes
- Who is Your Client?
- Conflicts of Interest
- Liability During Closing and Post-Closing Procedures
- Disclosure of Defects
- Duty to Report Unethical Conduct/Fraud