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110 West Berry St, Suite 2100
Fort Wayne, Indiana 46802
Phone: 260.489.8500
Fax: 260.489.8544

FAQ's

What should be in a real estate purchase contract?

Real estate purchase contracts can be extraordinarily simple but usually end up being very complex and lengthy documents, in order to try to address all the "what if's" that are typically involved in a commercial real estate transaction. Points that would typically be covered include:

  • Parties
  • Recitals (background facts as to why the parties are doing the deal)
  • Description of the property
  • Sales price and terms of payment
  • Title and title insurance
  • Closing date
  • Escrow provisions
  • Conditions to closing
  • Representations and warranties
  • Environmental and hazardous waste provisions
  • Zoning and land use issues
  • Rights to inspection
  • 1031 exchange provisions, if applicable
  • Liability insurance requirements
  • Indemnification and hold harmless provisions
  • Remedies if a party breaches
  • Rights to amend and modify
  • Term and termination
  • Rights to assignment or delegation of rights
  • Attorneys' fees and costs
  • Arbitration rights, if any
  • Governing laws
  • Other standard provisions


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