Walk away with a comprehensive due diligence checklist to ensure the success of your client’s real estate purchase.
In any type of real estate purchase, due diligence is one of the vital tasks in performing the purchase. This topic will discuss assembling a due diligence team, review the right questions to ask the seller, and the client in engaging due diligence. We will assist in drafting terms of the purchase contract relating to due diligence to maximize the purchaser’s benefit of the due diligence process. We will discuss the due diligence process in the age of Dropbox and online document rooms. Finally, we will discuss a comprehensive due diligence checklist and review specific important factors, including title, survey, zoning, environmental issues, and leases.
Learning Objectives
- You will be able to recognize and better align your client’s needs and interests with the transaction’s due diligence.
- You will be able to discuss and negotiate all aspects of the purchase agreement relating to due diligence.
- You will be able to describe and account for document rooms and electronic storage in your real estate contracts.
- You will be able to explain and compile a comprehensive due diligence check list for all types of real estate.
Agenda
Due Diligence Threshold Questions
- Why Is the Property Being Purchased?
- How Will the Property Be Used?
- Will There Be Construction?
- Who Is the Due Diligence Team?
- Determining Basic Due Diligence Needs
Due Diligence Terms of the Agreement
- Time Periods
- Inspection of Materials
- Addressing Document Rooms and Electronic Storage
- Inspection of Property
- Ramifications of Due Diligence Outcome
Specific Due Diligence Issues
- Title and Survey
- Zoning
- Plat Issues
- UCC Searches and Personal Property
- Lender Requirements
- Leases
- Environmental Studies
- Miscellaneous Issues
- Mineral/Oil/Gas/Timber/Water Rights
- Purchase of Business
- Hotel Management Agreements
- Franchise Agreements
- Intellectual Property
Speakers
Larry N. Woodard,
Honigman LLP- Partner of real estate practice group of the Chicago office of Honigman LLP
- Practice emphasis in all areas of real estate law, including commercial real estate transactions, real estate development, joint ventures, real estate based lending, loan workouts, foreclosures, construction law and mechanics liens
- Represents Fortune 500 companies, developers, regional and national banks, institutional investors, special servicers, higher education institutions, units of local government, REITs, contractors, landlords, tenants, receivers and real estate brokers
- Noted speaker and writer on a variety of real estate topics
- Completing acquisition, economic incentives, leasing and complete redevelopment of 1.6 million square food corporate headquarters
- Recently completed one of the largest investments of Chinese capital in the country
- Publishing a treatise on reciprocal easement agreements and vertical subdivisions
- Adjunct professor of law, The John Marshall Law School
- Member of the International Council of Shopping Centers and the American, Illinois State and Chicago Bar Associations
- J.D. degree, LL.M. and B.S. degrees in real estate, University of Illinois and The John Marshall Law School
- Can be contacted at 312-701-9331 or LWoodard@honigman.com
Who Should Attend
This live webinar is designed for attorneys, presidents, vice presidents, real estate professionals, property managers, closing specialists, lending professionals, loan officers, title officers, business owners and managers, directors, branch managers, and accountants.
