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 78746ralbers@koalaw.com

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

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TARCommercial Purchase Contracts

Commercial Contract - Improved Property (TAR 1801)

Commercial Contract - Unimproved Property (TAR 1802)

Paragraphs 1 & 22 E

Paragraphs 1 & 22 E

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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

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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

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Questions ?• NOW –

Type your questions now.

• LATER –

TAR Legal Hotline 512-480-8200

Rick Albersralbers@koalaw.com

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Commercial Leasing Basics

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