Real Estate Transaction Skeleton Outline

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1. Broker a. Duties of the broker b. Brokerage agreement 2. Purchase and Sale Agreement a. Parties b. Timeline c. Standard AIR Form i. Assignment Rights ii. What property is included iii. Purchase Price iv. Brokers v. Closing Date vi. Due Diligence and Contingencies 1. Disclosures 2. Physical Inspection of Property 3. Environmental a. Phase I, II, Remediation 4. Soil Inspection 5. Government Regulations and Land Use 6. Title Insurance a. Covered b. Exceptions 7. Surveys 8. Estoppel Certificates 9. Other Agreements Affecting the Property 10. Financing 11. Damage, Destruction or Loss 12. Material Change 13. Representations and Warranties vii. Closing Process 1. Seller must provide 2. buyer must provide 3. Fees and Proration of taxes 3. Constructions a. Parties b. Preconstruction Process c. Construction Process d. Money i. Progress Payments e. Mechanics Lien f. Modification, Changes and Delay 4. Leasing a. Types of lease and rent b.

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