Real Estate Transaction Process

This class is designed to teach students about the transaction process for three different
common real estate transaction types – (1) purchase and sale, (2) lease and (3) loan. The class begins
by identifying the typical stages of a real estate transaction and explaining how those stages vary
depending upon the type of real estate transaction. The course then describes the transaction
process and the specific stages of each of a purchase and sale, loan, and lease transaction. Next, the
class defines what the “closing” is in each type of real estate transaction and the specific types of
documents that should be listed on a closing checklist. The course then reviews the role of a junior
attorney in each of the various transaction processes, including the closing stage. The class then
discusses the items that may need to be completed or monitored after the transaction has closed.

Upon completion of this course, participants will be able to:

• Identify the typical stages  of a real estate transaction and how those stages vary depending upon the type of real estate transaction.
• Describe the different ways a real estate transaction can be financed.
• Understand the junior attorney’s role in the transaction process and, specifically, the closing process.
• Articulate the typical closing obligations and responsibilities of the various parties and recognize the types of ancillary documents typically required in a purchase and sale, loan, and lease transaction, and the potential post-closing obligations relevant to each
• Prepare a closing checklist

Simulation Exercise: Students are presented with a real estate investment client that owns a
medical office building. The client has entered into a purchase and sale agreement to sell the
building. Students are asked to work on the following tasks: review the sample purchase and sale
agreement and prepare a closing checklist.

2 CLE Credits is available for each course.