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.

TIME	CONTENT		LEARNING OBJECTIVES After this segment, the student will be able to:
20 min	Buyer and seller's objectives in purchasing real estate		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.
20 min	Sales contracts		Understand the structure of commercial sales contracts.
20 min	Option contracts		Define and give examples of option contracts and explain the reasons for using option contracts in commercial transactions.
20 min	Property descriptions		Evaluate some unique issues related to property descriptions for commercial real estate.
30 min	Elements of commercial sales		Determine the importance of several elements of a commercial sale, including sales price, financing, earnest money, surveys, feasibility studies, and inspections.
20 min	Representations and warranties		Differentiate between representations and warranties and identify examples of each.
15 min	Environmental issues		Summarize how environmental issues can affect the sale of commercial real estate.
15 min	Closings		Analyze the process involved in the division (allocation or proration) of financial items between the buyer and the seller, which takes place at closing.
20 min	Documents needed for a commercial sale		Identify the documents required for a commercial real estate closing and explain the purpose of each.
15 min	Tax shelters		Assess the advantages of like-kind exchanges.
15 min	Concepts		Calculate gain and distinguish between tax-free and tax-deferred situations.
15 min	Like-kind and not like-kind exchanges		Compare and contrast like-kind versus not like-kind exchanges.
45 min	1031 Exchanges		Analyze the requirements for a 1031 exchange.
45 min	Equal and unequal exchanges		Differentiate between equal and unequal exchanges and know hot to adjust (balance) unequal exchanges.
30 min	Multi-party and delayed exchanges		Examine the requirements for 2, 3 and 4-way party exchanges and delayed exchanges.
15 min	Safe harbors		Understand the concept of safe harbors in real estate exchanges.