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. Although all sectors of commercial real estate, with the exception of retail space, are strong, lenders are still cautious. 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 issu
- Understanding the minefield of seller’s reps and warranties
- Buyer and seller’s covenants in a volatile market
- Deposits of money
Speakers: John S. Hollyfield, Norton Rose Fulbright, LLP, Houston, TX and Richard R. Goldberg, Ballard Spahr, LLP, Philadelphia, PA
NOTE: This program was originally produced as a telephone seminar and is available on demand in streaming audio. This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for ethics, elimination of bias or Kansas credit.