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Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical questions call 800-263-6317.

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Page 1: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Commercial Webinar Series1 hour presentation

TAR Commercial Purchase Contracts

presented by

Rick Albers

Questions will be answered at the end.

For technical questions call 800-263-6317.

Page 2: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Commercial Webinar Series

Texas Association of Realtors® Commercial Purchase Contracts

Presented by

Rick Albers Kuperman Orr & Albers, P.C.1501 S. MoPac, Suite 325

Austin, Texas [email protected]

March 26, 2015

Page 3: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Topics

• Purchase Contracts

• Addenda & Exhibits

• Completion of the Contract Forms

• Use of Addenda

• Common Mistakes

• How to Obtain the Forms

Page 4: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

TREC vs TAR

• TREC –Texas Real Estate Commission – licensing agency (governmental)

• TAR – Texas Association of Realtors® – professional trade organization

• provides services to it members• attempts to influence TREC’s rules and

regulations

4

Page 5: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

TARCommercial Purchase Contracts

Commercial Contract - Improved Property (TAR 1801)

Commercial Contract - Unimproved Property (TAR 1802)

Page 6: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical
Page 7: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Paragraphs 1 & 22 E

Page 8: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Paragraphs 1 & 22 E

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Page 9: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Paragraph 2 A – Property Description

Page 10: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Paragraph 2 A – Property Description

Page 11: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Paragraph 4 & Financing Addendum

Page 12: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Paragraph 6 B - Survey

Page 13: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Paragraph 6 C – UCC Search

Page 14: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Paragraph 7 B – Feasibility Period

Page 15: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Paragraph 7 D(1) - Property Information

Page 16: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Paragraph 8 B – Estoppel Certificates

Page 17: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Paragraph 8 B & Agreement Between Brokers

Page 18: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Paragraph 8 B & Agreement Between Brokers

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Page 19: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Paragraph 8 B – Commission (County)

Page 20: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Paragraph 9 - Special Provisions

Page 21: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Paragraph 19 A - Property Condition Statement

Page 22: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Paragraph 20 - Notices

Page 23: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Addendum – the word Addendum – something added to

the original Contract

Addendums – plural (commonly accepted)

Addenda – plural (original Latin form)

Addendas – plural-plural

Amendment – a change to the Contract after execution

Page 24: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

TAR Commercial Contract Addenda & Exhibits

Pre-Contract

Commercial Letter of Intent to Purchase (TAR 1803)

Page 25: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical
Page 26: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Addendums and Exhibits

• Commercial Contract Financing Addendum(TAR1931)

Page 27: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical
Page 28: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Addendums and Exhibits

• Commercial Contract Financing Addendum(TAR1931)

• Commercial Contract Exhibit (TAR 1937)

• Commercial Contract Addendum for Special Provisions (TAR 1940)

• Condominium Addendum to Commercial Contract (TAR 1930)

Page 29: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical
Page 30: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Addendums and Exhibits

• Commercial Contract Financing Addendum(TAR1931)

• Commercial Contract Exhibit (TAR 1937)

• Commercial Contract Addendum for Special Provisions (TAR 1940)

• Condominium Addendum to Commercial Contract (TAR 1930)

• Addendum for Reservation of Oil, Gas, and Other Minerals (TAR 1905)

Page 31: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical
Page 32: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Addendums and Exhibits

• Addendum For Seller's Disclosure of Information On Lead-Based Paint (TAR 1906)

• Addendum for Coastal Area Property (TAR 1915)

• Addendum for Property Located Seaward of the Gulf Intracoastal Waterway (TAR 1916)

• Non-Realty Items Addendum (TAR 1924)

• Commercial Property Condition Statement (TAR 1408)

Page 33: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical
Page 34: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Negotiation

• Seller's Invitation to Buyer to Submit New Offer (TAR 1926)

Page 35: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical
Page 36: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Amendments

• Commercial Contract Amendment (TAR 1932)

Page 37: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical
Page 38: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical
Page 39: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Administration

• Commercial Contract Critical Date List (TAR 1942)

Page 40: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical
Page 41: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Administration

• Commercial Contract Critical Date List (TAR 1942)

• Condominium Resale Certificate (TAR 1921)

• Condominium Information Statement (TAR 1934)

• Authorization to Obtain Consumer Report (TAR 1929)

• Commercial Tenant Estoppel Certificate (TAR 1938)

Page 42: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical
Page 43: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Administration

• Commercial Contract Critical Date List (TAR 1942)

• Condominium Resale Certificate (TAR 1921)

• Condominium Information Statement (TAR 1934)

• Authorization to Obtain Consumer Report (TAR 1929)

• Commercial Tenant Estoppel Certificate (TAR 1938)

• Buyer's Walk-Through and Acceptance Form (TAR 1925)

• Seller's Estimated Net Proceeds (TAR 1935)

• Buyer's Estimated Costs (TAR 1936)

Page 44: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Assignment

• Commercial Contract Assignment of Buyer's Interest (TAR 1943)

Page 45: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical
Page 46: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Termination

• Commercial Contract Termination Notice (TAR 1939)

Page 47: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical
Page 48: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Termination

• Commercial Contract Termination Notice (TAR 1939)

• Release of Earnest Money (TAR 1904)

Page 49: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical
Page 50: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

FORM ACCESS

• Obtain PDF copies of Forms through TAR Website

• Complete Forms with zipForms

www.TexasRealtors.com www.TexasRealEstate.com

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Page 55: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical
Page 56: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

Questions ?• NOW –

Type your questions now.

• LATER –

TAR Legal Hotline 512-480-8200

Rick [email protected]

Page 57: Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical

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