(A) Due Diligence and the Standard Commercial Contract

Instructor: Jennie G. Farshchian, Esq.

Early payment membership dues credits can be applied to this class if dues were paid by June 14th, 2023.

This course offers 2 Commercial Certification Points

This presentation will review the Commercial Contract and is intended to educate real estate professionals on how to effectively fill out the Standard Commercial Contract as well as the Optional Clauses Rider to the Contract.

In addition, this class will discuss the issues relating to due diligence, including the chief purpose of real estate due diligence in commercial property, how to mitigate financial uncertainties, and how to ensure that the property complies with applicable building, environmental, and zoning codes.  Real estate professionals engaging in commercial transactions must know the steps to take to thoroughly and competently assist their clients with the due diligence process.  To help agents accomplish this, this class covers the following topics:

• Understanding the material terms of the Commercial Contract.
• New changes to the Commercial Contract.
• Closing costs and who pays for what.
• Ways to take title in commercial real estate classes.
• Common pitfalls to avoid in order to protect yourself from litigation and disciplinary complaints.
• The important steps of a commercial real estate transaction.
• Due diligence checklists and items to request during the inspection period.
• The importance of tenant leases and material terms to watch out for.
• Ensuring compliance with zoning, environmental and building regulations.
• The Miami-Dade/Broward 40 year recertification process.