Commercial Sales and Exchanges

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TARGET="_top" TITLE="Frequently Asked Questions">FAQ's</A></div> <bR> <DIV ALIGN="LEFT"></DIV> <div> APPROVED</div> <div> BY</div> <div> <A HREF="http://159.87.254.2/publicdatabase/DetailSchool.aspx?Id=102" TARGET="_top" TITLE="http://159.87.254.2/publicdatabase/Detai"><IMG SRC="19b5a5a0.png" border=0 width="90" height="90" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></A></div> <div> (click here</div> <div> to verify)</div> <bR> </td> <td valign="top" height=380 width="100%" colspan=2 BGCOLOR="#FFFFFF" TEXT="#080000"> <div> <B>Commercial Sales and Exchanges</B><FONT SIZE="6" COLOR="#000000" FACE="Arial" ><B>  </B></FONT></div> <div> <B>COMMERCIAL SALES AND EXCHANGES</B></div> <div> (7 hours total: 4 hours, Real Estate Legal Issues; 3 hours, Contract Law)</div> <bR> <div> <TABLE BORDER="0" CELLPADDING="2" CELLSPACING="1" WIDTH="402" BORDERCOLORLIGHT="#C0C0C0" BORDERCOLORDARK="#808080" FRAME="BOX" RULES="ALL" HSPACE="0" VSPACE="0" > <tR> <tD VALIGN=TOP HEIGHT= 82 WIDTH="396"><div> Aspects of the commercial sales transaction and tax-deferred exchanges are covered in great detail.  You will learn the essential elements of the contract, closing procedures, and documentation in a commercial sale, along with the benefits and requirements of a tax deferred exchange.</div> </tD> </tR> </TABLE></div> <div> <TABLE BORDER="0" CELLPADDING="2" CELLSPACING="1" WIDTH="542" BORDERCOLORLIGHT="#C0C0C0" BORDERCOLORDARK="#808080" FRAME="BOX" RULES="ALL" HSPACE="0" VSPACE="0" > <tR> <tD VALIGN=TOP HEIGHT= 32 WIDTH="47"><div> <B>TIME</B></div> </tD> <tD VALIGN=TOP WIDTH="187"><div> <B>CONTENT</B></div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="32" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP><NOBR><div> <B>LEARNING OBJECTIVES</B></div> <div> After this segment, the student will be able to:</div> </NOBR></tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 66 WIDTH="47"><div> 20 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Buyer and seller's objectives in purchasing real estate</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="66" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Explain some general issues involved in a commercial sale, including the buyer and seller's objectives and the roles of brokers and the attorneys in the transaction.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 33 WIDTH="47"><div> 20 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Sales contracts</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="33" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Understand the structure of commercial sales contracts.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 49 WIDTH="47"><div> 20 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Option contracts</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="49" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Define and give examples of option contracts and explain the reasons for using option contracts in commercial transactions.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 33 WIDTH="47"><div> 20 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Property descriptions</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="33" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Evaluate some unique issues related to property descriptions for commercial real estate.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 66 WIDTH="47"><div> 30 min</div> </tD> <tD VALIGN=TOP><NOBR><div> Elements of commercial sales</div> </NOBR></tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="66" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Determine the importance of several elements of a commercial sale, including sales price, financing, earnest money, surveys, feasibility studies, and inspections.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 33 WIDTH="47"><div> 20 min</div> </tD> <tD VALIGN=TOP><NOBR><div> Representations and warranties</div> </NOBR></tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="33" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Differentiate between representations and warranties and identify examples of each.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 33 WIDTH="47"><div> 15 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Environmental issues</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="33" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Summarize how environmental issues can affect the sale of commercial real estate.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 66 WIDTH="47"><div> 15 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Closings</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="66" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Analyze the process involved in the division (allocation or proration) of financial items between the buyer and the seller, which takes place at closing.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 49 WIDTH="47"><div> 20 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Documents needed for a commercial sale</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="49" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Identify the documents required for a commercial real estate closing and explain the purpose of each.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 16 WIDTH="47"><div> 15 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Tax shelters</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="16" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP><NOBR><div> Assess the advantages of like-kind exchanges.</div> </NOBR></tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 33 WIDTH="47"><div> 15 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Concepts</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="33" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Calculate gain and distinguish between tax-free and tax-deferred situations.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 33 WIDTH="47"><div> 15 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Like-kind and not like-kind exchanges</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="33" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Compare and contrast like-kind versus not like-kind exchanges.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 16 WIDTH="47"><div> 45 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> 1031 Exchanges</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="16" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP><NOBR><div> Analyze the requirements for a 1031 exchange.</div> </NOBR></tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 49 WIDTH="47"><div> 45 min</div> </tD> <tD VALIGN=TOP><NOBR><div> Equal and unequal exchanges</div> </NOBR></tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="49" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Differentiate between equal and unequal exchanges and know hot to adjust (balance) unequal exchanges.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 33 WIDTH="47"><div> 30 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Multi-party and delayed exchanges</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="33" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Examine the requirements for 2, 3 and 4-way party exchanges and delayed exchanges.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 33 WIDTH="47"><div> 15 min</div> </tD> <tD VALIGN=TOP WIDTH="187"><div> Safe harbors</div> </tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="33" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><div> Understand the concept of safe harbors in real estate exchanges.</div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 16 WIDTH="47"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="16" ALIGN="bottom" WIDTH="47" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="187"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="16" ALIGN="bottom" WIDTH="187" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="7"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="16" ALIGN="bottom" WIDTH="7" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="280"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="16" ALIGN="bottom" WIDTH="280" HSPACE="0" VSPACE="0"></tD> </tR> </TABLE></div> <bR> </td> </tr><tr> <td valign="top" colspan=2 height=99 style=" border-top: 1px solid #990000;" BGCOLOR="#FFFFFF" TEXT="#080000" bgproperties="fixed" background="01200640egerdp.png"> <bR> <bR> <div> Phone:<B> 602-255-0101</B></div> <bR> <bR> </td> </tr></table></body>