Commercial Real Estate Legal Forms

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Commonly Asked Questions about Commercial Real Estate Legal Forms

What are the three most common forms of legal descriptions in real estate?

The three types of legal descriptions youre likely to encounter include: Metes and bounds. Rectangular Survey System (also known as Public Land Survey System or government survey method) Plat method or lot and block method.

What is a simple letter of intent for real estate?

I am writing to express my intent to purchase the residential property located at [Property Address] (the Property). This Letter of Intent outlines the key terms and conditions of the proposed transaction, and it is not intended to be legally binding until both parties execute a formal purchase agreement.

How to write a letter of interest for commercial real estate?

Regardless of how the property will be used, an LOI for leased commercial space will generally include the following: Date the LOI is being submitted. Landlord and/or Broker and their contact information. Tenant name and contact information. Cover letter or paragraph indicating that this is an LOI for a specific property.

How to write a letter of intent for commercial property?

How to Write an LOI in Commercial Real Estate Structure it like a letter. Write the opening paragraph. State the parties involved. Draft a property description. Outline the terms of the offer. Include disclaimers. Conclude with a closing statement.

What is the most common deed in commercial real estate?

SPECIAL WARRANTY DEED OVERVIEW The Special Warranty Deed is most commonly used in commercial property and is also sometimes used to transfer REO (Real Estate Owned) properties. With the Special Warranty Deed, the grantor gives the warranty only for the time frame in which he/she held the Title.

How do you draft a real estate contract?

How to write a real estate purchase agreement. Identify the address of the property being purchased, including all required legal descriptions. Identify the names and addresses of both the buyer and the seller. Detail the price of the property and the terms of the purchase. Set the closing date and closing costs.

What is a LOI in commercial real estate?

An LOI stands for Letter of Intent. In commercial real estate, a Letter of Intent is a preliminary agreement that is negotiated between a tenant and landlord or buyer and seller. The LOI or Letter of Intent states the primary economics and deal points with proposed terms.