Guaranteed Waives This Summer Loan guaranties typically contain many express “waivers” by the guarantor for the benefit of the lender. By agreeing to such a waiver, the guarantor releases certain rights that could have otherwise frustrated the lender’s clear path toward recovery if exercised by the guarantor. For example, waivers of notice, presentment and even … More Guaranteed Waives This Summer
When You Assume We are seeing a great many multifamily and commercial real estate deals being accomplished in this market involving an assumption of a seller’s existing debt. Obviously, there are added considerations for both the buyer and seller when a property is being conveyed with an existing loan, which need to be taken into … More When You Assume
In My Opinion As a condition for making any kind of commercial real estate loan, lenders require a variety of assurances and representations from the borrower (and other key principals or guarantors) to verify that the borrower has the legal standing and ability to borrow (and payback) the loan. Beyond taking the borrower’s word for it, lenders … More In My Opinion
Practice Point #45: Set the date Oftentimes, critical dates for milestones in commercial real estate agreements are expressed as to-be-determined days keyed off of certain events. For example, in a commercial purchase agreement, it is fairly typical for the expiration date of the due diligence inspection period (with earnest money going hard) to be expressed as … More Set the date
Single and Loving It! Single tenant asset investment properties are a thriving area of the current commercial real estate market. These deals offer the apparent security of an ongoing rental income stream and purchasers perceive that the risk of these investments is more limited than commonly associated with purchasing larger retail centers. One of the … More Single and Loving It!
Duck and Coverage: Understanding Standard vs. Extended Arizona Title Insurance Coverage As a firm that focuses on real estate transactions, we have tried to stress the importance to our clients to not only obtain appropriate title insurance, but to more importantly understand the policy that is being purchased and the covered and uncovered risks. All … More Duck and Coverage: Understanding Standard vs. Extended Arizona Title Insurance Coverage
BOUND INTENTIONS Nearly all commercial real estate transactions first come into being through a letter of intent or “LOI” at the outset of the deal. LOIs typically set forth the basic business terms for a deal, such as the property location, parties, and the purchase price or rental amounts, and may also include some … More BOUND INTENTIONS – COMMERCIAL REAL ESTATE LOIS