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