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How to Protect Commercial Real Estate Contract

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Sheena and Hafiz introduce themselves in the tutorial. Sheena, based in the Atlanta office, joined the firm in November 2018 after working at a real estate firm, which sparked her interest in real estate transactions. She has enjoyed her nearly two years at the firm and looks forward to more. Hafiz, located in the New York City office, joined in September 2019 and has experience in immigration law, along with a background in real estate, litigation, leasing, and general practice. He has also worked as a semi-developer and engaged in brokerage and real estate sales over the years. They are set to discuss relevant topics in the session.

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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What are the 4 classifications of contracts?

Contracts may be classified ing to their performances as (i) Unilateral contract (ii) Bilateral contract (iii) Executed contract (iv) Executory contract.

What are the different types of purchase agreements?

Types of Purchase Agreements There are four primary types of purchase orders. The difference is between them is essentially based on how much information is known at the time the order is made. The four types are standard purchase orders, planned purchase orders, blanket purchase orders, and contract purchase orders.

What does hold harmless mean in real estate?

Hold harmless is defined as a promise in a contract, by one party not to hold the other party responsible if the other party carries out the contract in a way that causes damage to the first party.

What is a commercial contingency?

Contingencies in real estate contracts allow the prospective buyer to walk away from a property purchase without incurring penalties if the contingency is not satisfied.

What are main types of contracts?

Types of Contracts: Learn About the 13 Main Options Fixed-Price Contract. Cost-Reimbursement Contract. Cost-Plus Contract. Time and Materials Contract. Unit Price Contract. Bilateral Contract. Unilateral Contract. Implied Contract.

What are the 4 essential elements of a contract in real estate?

Required Elements of a Real Estate Contract To establish legality, a real estate contract must include a legal purpose, legally competent parties, agreement by offer and acceptance, consideration, and consent.

What are the most common real estate contracts?

The sale contract is the most common type of real estate agreement and will usually specify the details regarding the purchase of the property.

What are the four types of legal contracts real estate?

There are essentially four types of real estate contracts: purchase agreement contracts, contracts for deed, lease agreements, and power of attorney contracts.

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