Purchasing and Selling Commercial Real Estate Toolkit
Resources to assist counsel to purchasers and sellers in understanding, negotiating and closing a commercial real estate purchase and sale transaction. This Toolkit also contains many ancillary agreements related to a commercial real estate purchase and sale transaction.
Purchasing and selling commercial real estate is often a complex, lengthy process with many different components. Although every transaction has its own set of nuances, most commercial real estate purchase and sale transactions follow the same work flow. The general steps include:
Drafting and negotiating the letter of intent ( www.practicallaw.com/2-382-3876) (LOI).
Drafting and negotiating the purchase and sale agreement.
Conducting or managing the due diligence investigation.
Satisfying pre-closing conditions and preparing for closing.
Resolving post-closing items.
Purchasers and sellers have their own set of unique objectives and both try to limit their liability at every stage of the process. This Toolkit contains continuously maintained Practice Notes, Standard Documents, Standard Clauses, and Checklists to help counsel for purchasers and sellers manage the transaction from the preliminary planning stage through the closing of the transaction.
Because certain aspects of a commercial real estate purchase and sale transaction are also governed by the specific laws and customs of the state where the property is located, this Toolkit also provides resources designed to provide guidance to purchasers and sellers in both multistate portfolio purchase and sale transactions and out-of-state transactions where the parties' counsel may be unfamiliar with the laws and customs of a certain state.