1. Commercial Contracts: An In-Depth Look
Waddell Wright, CPM, CCIM

2. About Me...
20 years of experience in retail, industrial and office real estate and development in the Nashville area - licensed in TN, FL, MS, GA
Specializes in Analysis, Acquisitions, Dispositions, Finance & Leasing
Maintain relationships with 60+ major lenders, Asset Management & Insurance Companies while managing, renovating, and selling their commercial foreclosed properties
Provided asset valuations to lenders
Sold & purchased over $100 million in investment real estate
As a Nashville Native, I am involved in several community organizations
Stone Street Housing Foundation

3. Two 15m Breaks Are Provided!
About the Class...
Commercial Purchase Sale Agreement
Commercial / Industrial Real Property Disclosure
3 hours
9:00am - 12:00pm
Commercial LOI to Purchase
Two 15m Breaks Are Provided!
Indicates a Pro Tip!

4. Communication: Spoken & Written Say What You Mean Mean What You Say
Be Clear
Double Check Your Check
PB Sandwich Exercise - 15m
(5 for them to write, 10 for you to make the point)

5. Commercial Purchase Sale Agreement
8 Pages, 19 Individual Sections, 387 Lines

6. Purchase & Sale
Purchase Price
Earnest Money/Trust Money
Failure To Receive
Disputes Regarding
Inspection
Title
Warranties Of Seller
Title Issues & Objections
Closing
Closing Date
Possession
Seller’s Obligations At Closing
Conditions To Closing
Costs
Seller’s Costs
Buyer’s Costs
Additional Costs
Taxes & Prorations
Representations & Warranties
Buyer’s R & W
Seller’s R & W
Agency & Brokerage
Agency
Agency Disclosure
Brokerage
Disclaimer
Destruction Of Property Prior To Closing

7. Lines 365 - 387: Signatures Other Provisions
Exhibits, Binding Effect, Total Agreement, Modification, Assignment, and Binding Agreement Date
Survival Clause
Governing Law & Venue
Time of Essence
Terminology
Responsibility to Cooperate
Notices
Remedies
Equal Opportunity
Termination by Buyer
Severability
Construction
Exhibited & Addenda
Special Stipulations
Method of Execution
Time Limit of Offer
Lines : Signatures

8. Lines 1 - 45 Purchase & Sale Purchase Price Earnest Money/Trust Money
Failure to Receive
Disputes Regarding

9. Lines : Inspection

10. Lines 61 - 92 5. Title Warranties of Seller Title Issues & Objections
6. Closing
Closing Date
Possession

11. Lines 93 - 115 7. Seller’s Obligations at Closing
8. Conditions to Closing

12. Lines
9. Costs
Seller’s Costs
Buyer’s Costs
Additional Costs

13. Lines 141 - 161 Taxes & Prorations Representations & Warranties
Buyer’s R & W
Seller’s R & W

14. Lines 162 - 241 Agency & Brokerage Agency Agency Disclosure Brokerage
Disclaimer
Lines

15. Lines 242 - 250 Destruction of Property Prior to Closing
… if property is substantially damaged…
Cost of restore & repair
Amount of insurance proceeds
Whether damage will be prepared prior to closing
Buyer may terminate within 7 days of receiving this notice (with above details)
Buyer may request in writing, and receive within 5 days, all supporting documentation for insurance, etc.
Lines
Destruction of Property Prior to Closing

16. Lines 251 - 315 15. Other Provisions LOTS OF OTHER PROVISIONS!
Highlights
Survival Clause
Time of Essence
Responsibility to Cooperate
Notices
Remedies
Equal Opportunity
Termination by Buyer
Severability
Construction
Exhibited & Addenda
Special Stipulations
Method of Execution
Time Limit of Offer
Lines
Other Provisions
LOTS OF OTHER
PROVISIONS!

17. Lines 315 - 328 Lines 329 - 358 Exhibited & Addenda Exhibits A -D
Legal Description
Due Diligence Documents
Addition to Seller’s CLosing Documents
Seller’s Warranties & Representations
Special Stipulations
Method of Execution
Digital, fax signatures count as originals - and any combination thereof
Time Limit Offer
This Offer may be withdrawn at any time before Acceptance with Notice. Offer terminates if not countered or accepted by ________’o clock (AM/PM) local time on the ________ day of __________.

18. Mind the Binding Agreement Date!
Don’t Forget the Signatures!

19. 15 minutes - BREAK!
Questions?

20. Commercial / Industrial Real Property Disclosure 2 pages, 79 lines

21. Owner’s Certification Lessee’s Acknowledgement
Lines 1 - 6
Upon the request from a prospective tenant of: (1) commercial real property of one thousand, five hundred (1,500) square feet or less, or (2) industrial real property must disclose to such tenant specific information about whether the property is in compliance with certain state and local codes for the type of building to be leased. This completed form constitutes that disclosure by the owner.
The information contained in the disclosure is the representation of the owner and not the representation of the real estate licensee, or salesperson, if any. This is not a warranty or substitute for any professional inspection or warranties that the tenant may wish to obtain.
Disclosures
Remedies
Owner’s Certification
Lessee’s Acknowledgement

22. Lines 7 - 17: Instructions to the Owner

23. Fire, Plumbing & Electrical
Lines
Disclosures:
Fire, Plumbing & Electrical

24. Lines
B. Remedies

25. Lines
C. Owner’s Certification

26. Lines
D. Lessee’s Acknowledgement

27. 15 minutes - BREAK!
Questions?

28. Commercial Letter of Intent to Purchase 2 pages, 84 lines

29. Lines : The Basics

30. Lines 12 - 42 The Details Seller Closing Date Buyer Contingencies
Purchase Price
Earnest Money Deposit
Due Diligence Period
Closing Date
Contingencies
Closing Costs
Other
Brokerage

31. 1 - 9

32. Lines

33. Lines

34. Lines : Signatures

35. Questions?

36. Final Questions & Discussion
Waddell H. Wright
Final Questions &
Discussion
Thank you for your time!