Options in Real Estate: Scope, Modifications, Purchase, Rights of First Refusal,-Audio Webcast
January 2018
Options in Real Estate: Scope, Modifications, Purchase, Rights of First Refusal, and First Offer
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Program Description:
Options in commercial real estate transactions give the optioner (the party buying the option) more time – more time to do due diligence, obtain financing and any necessary governmental approvals, and consider whether the transaction is truly viable. The optionee (the party whose property is subject to the option) loses the right to sell the property to a third party for the duration of the option but earns a fee for doing so. In a world of complex and risky commercial real estate transactions, where time is often of the essence and risk is high, options allow developers, investors and others an effective mechanism to buy time and take a wait-and-see-approach. This program will provide you with a practical guide to drafting essential provisions of options in commercial real estate transactions, including avoiding costly traps.
- Types of option contracts in real estate transactions
- Economics of real estate option contracts, including the purchase price of the underlying property and market volatility
- Key terms – duration of exclusive period, fees, and extensions – and relationship to market conditions
- Nature of exclusive period – access to property, restrictions on marketing, cooperation in obtaining permits
- Role of contingencies – financing, regulatory, market variables
- Differences between rights of first refusal and options
Faculty:
Manuel A. Fernandez is partner in the Miami office of Kasowitz Benson Torres & Friedman, LLP, where he represents clients in an extensive array of real estate matters, including real estate acquisitions and dispositions, commercial leasing matters, distressed real estate transactions, real estate financings and the formation of real estate joint ventures. He also represents hedge funds, pension funds, and other real estate opportunity funds in connection with joint ventures. Mr. Fernandez received his B.A., cum laude, from the University of Miami and his J.D., magna cum laude, from the University of Miami School of Law.
AUDIO WEBCAST INFORMATION:
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ACCREDITATION INFORMATION:
Each Audio Webcast has been submitted for 1 (or 2) General CLE Credit(s). Courses with an Ethics Component have been submitted for Ethics Credits accordingly.
How to Register:
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1. CALL us! (303) 860-0608, or toll free (888) 860-2531
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Each program will run from 11:00 a.m. to 12:00 p.m. M.T. (60 minutes each).
Registration Fees
| Non Member | $89.00 |
| CBA Member | $59.00 |
| CBA Real Estate Section Member | $49.00 |
| CLE ELITE Pass Holders | $0.00 |
- General Credits: 1.00
- Ethics Credits: 0.00
- EDI Credits:
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Access Timely Topics and National Experts with CBA-CLE 1-Hour Audio Webcasts