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OnDemand Course

Step by Step Through the Purchase Contract

Avoid ambiguities and pitfalls of real estate purchase agreements by understanding the critical terms needed for success.

Real estate purchase agreements for commercial developments often involve millions of dollars and form the basis for subdivisions, office parks, or shopping malls that are many times more valuable than the purchase price of the land. Mistakes made at the purchase agreement stage can haunt a development for years and the costs of mistakes in drafting can be high. Real estate purchase agreements for residences can also be challenging and difficult to prepare, with the risk of liability to the drafter and the parties to the contract. This topic helps drafters of real estate purchase agreements to understand the critical terms to include and how to avoid ambiguities and other pitfalls.

Runtime: 89 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Initial Considerations

  • Letters of Intent
  • Who Drafts the Contract
  • Seller and Buyer-Slanted Documents
  • Parties

Essential Elements of the Contract

  • Recitals
  • Definition of Property
  • Purchase Price
  • Feasibility Period
    • Title
    • Due Diligence
    • Access
    • Disclosure Obligations
  • Closing Preconditions
  • Escrow and Closing
  • Indemnity Provisions
  • Environmental Provisions
  • Default and Remedies

Forms, Case Studies, and Examples

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on July 31, 2019.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Gretta C. Spendlove

Gretta C. Spendlove

Durham Jones & Pinegar

  • Shareholder and on the board of directors with Durham Jones & Pinegar
  • Practice focuses on real estate, corporate law, business transactions, and trademarks
  • Conducts regular seminars and workshops in fields of real estate contracts, land use and title law, easements and boundary disputes, commercial financing and leasing, and use of LLCs for real estate development
  • Member, CCIM, NAIOP, CREW, ULI, and ACG
  • J.D. degree, University of Arizona
  • Can be contacted at 801-415-3000 or [email protected]
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 405018
Published 2019
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