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Commonly Asked Questions about Commercial Property Sales Documents

What is the most important document at closing and why? The deed is the most important document because it transfers the property to the purchaser.
What real estate disclosures does California law require? Whether it would be advisable for the buyer to obtain title insurance. The presence of a nearby airport. If the propertys location puts it at risk of flooding or earthquake damage. Any releases of hazardous materials on the site.
Call 311 or 212-NEW-YORK (212-639-9675) for help. You can request a certified or uncertified copy of property records online or in person.
Youll need a variety of documents in order to sell your home. Some of the most important include your mortgage loan documentation, mandatory disclosures and the deed.
Deed - the most important document at closing because it transfers ownership of the property to the purchaser.
The deed includes the name of the buyer and seller and a detailed description of the property. Most importantly, the deed must contain proper legal language that conveys the transfer of property.
The most important originals are the purchase agreement, deed, and deed of trust or mortgage. In the event originals are destroyed, you might be able to get certified copies of these documents from the lender or closing company, but you dont want to rely on others recordkeeping systems unless you have to.
A letter of intent is used in commercial real estate transactions whenever negotiations are expected to be complex. They are typically drafted after someone has already viewed the property and had preliminary conversations with the owner and/or broker about moving forward with the transaction.