This course is designed to introduce students to real estate transactions. The course starts by defining real estate transactions in general and identifying the parties involved. It then describes the different types of real estate transactions and identifies the key documents in each. Finally, the course identifies the essential roles attorneys play in real estate transactions and the remedies available to the parties when there is a problem with a real estate transaction.
Overview of Real Estate Transactions
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Upon completion of this course, participants will be able to:
- Identify the various types and structures of real estate transactions
- Understand the various parties involved in a real estate transaction and the respective concerns of the parties involved
- Recognize the types of documents and terminology used in real estate transactions
- Understand the role of the attorney in various real estate transactions
- Review and summarize a letter of intent
Key Topics:
- Introduction
- What is a real estate transaction?
- What are the primary motivations for clients to engage in real estate transactions?
- Who are the typical parties involved in real estate transactions?
- Who are the typical clients in real estate transactions?
- Most common types of real estate transactions
- Difference between Residential and Commercial
- Purchase and sale
- Lease
- Loan
- Construction
- Pre-development and Development
- Documents generally involved in real estate transactions
- Term Sheets/LOIs
- Purchase and sale documents
- Lease documents
- Loan documents
- Types of documents in other real estate transactions
- Construction agreement
- Pre-development and development agreements
- The roles of an attorney in the different real estate transactions
- Importance of real estate attorneys
- Role of the Buyer’s and the Seller’s counsel in a purchase and sale transaction
- Role of the Landlord’s and the Tenant’s counsel in a leasing transaction
- Role of the Lender’s and the Borrower’s counsel in a lending transaction
- Other situations where counsel may represent a real estate client
- What happens when real estate transactions go wrong?
- Short sales
- Forbearance
- Workouts
- Unexpected discoveries during due diligence
Supplemental Materials/Additional Resources:
- Sample purchase and sale agreement
- Sample special warranty deed
- Sample lease agreement
- Sample loan agreement
- Sample financial term sheet for retail purchase
- Sample closing binder index
- Sample due diligence checklist
The AltaClaro Difference
Effective Learning with ROI--Backed by Education Science
Step 1: Learn
Learn at your own pace, absorbing lessons in short, easily digested segments led by experienced practitioners.
Step 2: Do
Apply what you've learned to solve real-world client scenarios, using transaction documents derived from actual deals.
Step 3: Review
Deepen your learning in virtual review sessions with an experienced practitioner. Review model answers and ask questions.
Class Content Overview
Level: Basic-Foundational
This class is suitable for attorneys who have a general interest in, or are exposed to, real estate transactions but do not have extensive practical experience.
Course Details
2 CLE Credits is available for each course.
Students are presented with a small family office client that recently sold a 12,000 rentable square foot multi-tenant retail shopping center. The client intends to use the proceeds from the sale to purchase two like-kind properties. Students are asked to (1) prepare the initial draft of the letter of intent for one property and (2) revise the draft letter of intent received from opposing counsel for the other property.
Instructors Who Practice What They Teach
Our vetted instructors are global practitioners with outstanding professional and educational qualifications and demonstrated achievement in their fields. All have 10+ years Big Law experience.
In addition to their accomplishments as practitioners, our instructors are also passionate about teaching. We carefully interview instructor candidates to assess personality, domain expertise and effectiveness in the classroom. Our instructors must maintain a 4.5 out of 5 rating from students.
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