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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

  • work Practice Area

    Real Property - Transactions

Date & Time
  • event Date

    Thursday, October 27, 2022

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$347.00
CLE
ALL

This CLE course will examine common obstacles to closing real estate deals, including environmental issues, defective or incomplete land use approvals, encroachments, flood issues, underperforming property, low basis sellers, and more. The panel will offer critical guidance on structuring the transaction to overcome these obstacles and drafting the terms of the purchase sale agreement.

Faculty

Peter J. Wagner
Attorney
Cassidy Romano & Love, PC

Mr. Wagner has worked as in-house counsel for lenders and servicers in the mortgage industry and represented consumers in a variety of legal matters for many years.

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David J. Tshudy
Partner
Troutman Pepper Locke LLP

Mr. Tshudy represents national and regional real estate developers and investors of industrial, energy, health care, retail, and mixed-use projects through the entire real estate development process, including land control and acquisition, zoning, subdivision and land development approvals, construction financing, condominium and reciprocal easement creation, leasing, and disposition. In Mr. Tshudy’s transactional real estate practice, he regularly leads teams through deals involving options, ground leases, purchase and sale agreements, construction loan documents, mortgage enforceability opinion letters, reciprocal easement agreements, utility extension agreements, and joint venture agreements. In his land use practice, he represents and supervises the representation of clients before municipal governments, municipal authorities, planning commissions, and zoning boards to secure rezoning, zoning, and land development permits and approvals.

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Description

Counsel to purchasers and sellers in real estate deals must anticipate and resolve potential deal killers that can derail a transaction. Some factors can cause delay or thwart a closing, including environmental issues, defective land use approvals, encroachments, and more.

Sellers should disclose all known problems, and buyers should obtain appropriate contingencies and reps and warranties to protect their interests. Further, counsel to all parties must develop a plan to cure or mitigate problems and prepare to negotiate a price reduction to compensate for the defect if needed. Carefully drafting critical terms of the purchase sale agreement is essential to overcoming these obstacles. In addition to the contingency and reps and warranties provisions, counsel should carefully scrutinize boilerplate clauses and tailor them to parties' specific needs.

Listen as our authoritative panel discusses best practices for anticipating and solving potential deal killers arising during the sale or purchase of real estate and offers guidance on structuring contract terms to clear potential hurdles.

Outline

  1. Deposits
  2. Due diligence periods
  3. Entitlements contingencies
  4. Environmental contingencies
  5. Conditions precedent
  6. Representations and warranties
  7. Indemnities
  8. Remedies
  9. Provisions surviving closing
  10. Issues specific to residential transactions

Benefits

The panel will review these and other noteworthy questions:

  • What environmental concerns could derail a potential real estate deal, and what are some solutions for addressing them?
  • How should buyers and sellers address defective or incomplete land use approvals?
  • What are some practical strategies for dealing with encroachments?
  • What approach is best when dealing with a prohibitive prepayment penalty on an existing mortgage loan?