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Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical.

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Presentation on theme: "Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical."— Presentation transcript:

1 Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered at the end. For technical questions call

2 Commercial Webinar Series Texas Association of Realtors ® Commercial Purchase Contracts Presented by Rick Albers Kuperman Orr & Albers, P.C S. MoPac, Suite 325 Austin, Texas March 26, 2015

3 Topics Purchase Contracts Addenda & Exhibits Completion of the Contract Forms Use of Addenda Common Mistakes How to Obtain the Forms

4 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 4

5 TAR Commercial Purchase Contracts  Commercial Contract - Improved Property (TAR 1801)  Commercial Contract - Unimproved Property (TAR 1802)

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7 Paragraphs 1 & 22 E

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9 Paragraph 2 A – Property Description

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11 Paragraph 4 & Financing Addendum

12 Paragraph 6 B - Survey

13 Paragraph 6 C – UCC Search

14 Paragraph 7 B – Feasibility Period

15 Paragraph 7 D(1) - Property Information

16 Paragraph 8 B – Estoppel Certificates

17 Paragraph 8 B & Agreement Between Brokers

18 ================================================================

19 Paragraph 8 B – Commission (County)

20 Paragraph 9 - Special Provisions

21 Paragraph 19 A - Property Condition Statement

22 Paragraph 20 - Notices

23 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

24 TAR Commercial Contract Addenda & Exhibits Pre-Contract  Commercial Letter of Intent to Purchase (TAR 1803)

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26 Addendums and Exhibits Commercial Contract Financing Addendum (TAR1931)

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28 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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30 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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32 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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34 Negotiation Seller's Invitation to Buyer to Submit New Offer (TAR 1926)

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36 Amendments Commercial Contract Amendment (TAR 1932)

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39 Administration Commercial Contract Critical Date List (TAR 1942)

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41 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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43 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)

44 Assignment Commercial Contract Assignment of Buyer's Interest (TAR 1943)

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46 Termination Commercial Contract Termination Notice (TAR 1939)

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48 Termination Commercial Contract Termination Notice (TAR 1939) Release of Earnest Money (TAR 1904)

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50 FORM ACCESS Obtain PDF copies of Forms through TAR Website Complete Forms with zipForms

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56 Questions ? NOW – Type your questions now. LATER – TAR Legal Hotline Rick Albers

57 Thanks for your participation in the TAR Commercial webinars! Bonus: Today, March 26, :00 PM CDT Pre-Hill (Legislature) Visits for Commercial Brokers Next Presentation: April 23, :00 AM CDT Commercial Leasing Basics Give us your feedback!


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