Real Estate Purchase and Sale Checklist
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Real Estate Purchase and Sale Checklist
Real Estate Purchase and Sale Checklist
- Draft and negotiate Real Estate Purchase Agreement
- Order a Title Search and Commitment for Title Insurance with a Title Company
- Hire Professionals to Inspect the Property. For example, Appraisers, Surveyors, Environmental, Mechanical and/or Structural Engineers Review Commitment for Title Insurance for marketable title issues, such as liens, encumbrances and exceptions to coverage and negotiate their release or removal
- Review Survey for easements and encroachments
- Review Leases and Guaranty Agreements for unfavorable terms, ambiguities, deficiencies, signature inconsistencies, gather all exhibits to the agreements
- Review existing easements and/or negotiate new easements
- Obtain estoppel certificates and/or acknowledgement of attornment from all Tenants
- Schedule Closing
- Draft Deed and other required closing documents
- Review Closing Statement to ensure all costs are properly allocated
- Request Payoff Letter from Seller’s Lender
- Obtain Release of Mortgage Lien from Seller’s Lender
- Attend Closing
