Once the Purchase Agreement is signed by both parties, the only way to cancel it is if the seller agrees out of the kindness of their heart or if one of the contingencies isn’t met. For instance, if the building doesn’t appraise appropriately, and you can’t get a mortgage, you ... Read More
Category: Commercial Real Estate
24
Oct2019
Once the terms of the letter of intent are agreed to and signed off on by both parties, you will have determined how many days to give the attorneys to prepare an acceptable purchase agreement. I usually ask my clients to have their attorneys prepare the purchase agreement, because then ... Read More
October 24, 2019Lynn Drake
22
Oct2019
This area suffered a massive earthquake over 10 years ago. Prior to the earthquake, there were no zoning ordinances in this community. After the earthquake, the city realized they had a unique opportunity to re-shape their environment. The following are examples of one of the public spaces added for the ... Read More
October 22, 2019Lynn Drake
10
Oct2019
When buying real estate, you will have to make a deposit. I suggest having the deposit due 5 days after the purchase agreement is fully executed.
Don’t give a check to a seller. Find a title company that can be used to run the title and help you and the seller ... Read More
October 10, 2019Lynn Drake
02
Oct2019
Queenstown, New Zealand
Chard Farm
Black water tower reused to create an interesting winery
While in Queenstown, we went on a tour of wineries. There had been a black water tower on the property. It was taken down, and the sides of it were used to form the front of the bar, which ... Read More
October 2, 2019Lynn Drake
24
Sep2019
As you can see, there can be a contingency for anything that matters to you, the buyer. Don’t be afraid to request information that you need.
Additional time if the title isn’t free and clear
Seller to provide all surveys in existence and when it is to be completed by
Zoning, time to ... Read More
September 24, 2019Lynn Drake
20
Sep2019
Thunder Bird Lanes Transformed from a bowling alley to this beautiful office in Troy, MI.
September 20, 2019Lynn Drake
17
Sep2019
A letter of intent is a document in which you spell out the terms according to which you would agree to buy a building. I advise that you hire an attorney or have your real estate agent assist you in creating this document, as this will be a binding agreement. ... Read More
September 17, 2019Lynn Drake