commercial webinar series 1 hour presentation tar commercial purchase contracts presented by rick...
TRANSCRIPT
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.
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
Topics
• Purchase Contracts
• Addenda & Exhibits
• Completion of the Contract Forms
• Use of Addenda
• Common Mistakes
• How to Obtain the Forms
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
TARCommercial Purchase Contracts
Commercial Contract - Improved Property (TAR 1801)
Commercial Contract - Unimproved Property (TAR 1802)
Paragraphs 1 & 22 E
Paragraphs 1 & 22 E
==============================================================
Paragraph 2 A – Property Description
Paragraph 2 A – Property Description
Paragraph 4 & Financing Addendum
Paragraph 6 B - Survey
Paragraph 6 C – UCC Search
Paragraph 7 B – Feasibility Period
Paragraph 7 D(1) - Property Information
Paragraph 8 B – Estoppel Certificates
Paragraph 8 B & Agreement Between Brokers
Paragraph 8 B & Agreement Between Brokers
================================================================
Paragraph 8 B – Commission (County)
Paragraph 9 - Special Provisions
Paragraph 19 A - Property Condition Statement
Paragraph 20 - Notices
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
TAR Commercial Contract Addenda & Exhibits
Pre-Contract
Commercial Letter of Intent to Purchase (TAR 1803)
Addendums and Exhibits
• Commercial Contract Financing Addendum(TAR1931)
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)
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)
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)
Negotiation
• Seller's Invitation to Buyer to Submit New Offer (TAR 1926)
Amendments
• Commercial Contract Amendment (TAR 1932)
Administration
• Commercial Contract Critical Date List (TAR 1942)
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)
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)
Assignment
• Commercial Contract Assignment of Buyer's Interest (TAR 1943)
Termination
• Commercial Contract Termination Notice (TAR 1939)
Termination
• Commercial Contract Termination Notice (TAR 1939)
• Release of Earnest Money (TAR 1904)
FORM ACCESS
• Obtain PDF copies of Forms through TAR Website
• Complete Forms with zipForms
www.TexasRealtors.com www.TexasRealEstate.com
51
52
53
54
Questions ?• NOW –
Type your questions now.
• LATER –
TAR Legal Hotline 512-480-8200
Rick [email protected]
Thanks for your participation in the TAR Commercial webinars!
• Bonus:Today, March 26, 2015 1:00 PM CDT
Pre-Hill (Legislature) Visits for Commercial Brokers
• Next Presentation:April 23, 2015 10:00 AM CDT
Commercial Leasing Basics
• Give us your feedback!