Real Estate or Real Property

Real Estate or Real Property Agreements relate to transactions involving land and the buildings (improvements) located upon the land.  For most people their involvement is because they have purchased or sold a home or condominium, are looking to purchase or sell a home, or desire to rent an apartment or lease office space.  All of these individuals are required to sign a contract or lease, and other related legal documents that likely have many terms or provisions the individual does not understand, and which may result in serious consequences and risk.
Some common Residential Real Estate documents:

  • Real Estate Contract to buy a home or condominium
  • Appraisal
  • Mortgage or Deed of Trust – required by lender to buy a home
  • Promissory Note – a type of loan with terms of payment
  • Title Commitment before sale, Title Policy and sometimes Loan Policy after sale
  • Spot or Improved Survey
  • Owner’s Affidavit
  • Warranty Deed or Quit Claim Deed
  • Deed of Release

 

Common Rental or Lease documents related to real estate:

  • Rental or Lease Agreement – could be for an apartment, house lease, and land lease
  • Security Agreement
  • Parking Agreement

 

Other common documents related to many real estate transactions:

  • Option to Purchase or Lease
  • Right of First refusal
  • Listing or Realtor Agreement
  • Buyer’s Agency Agreement

 

Some common Commercial Real Estate Sale, Purchase or Lease documents:

The rental/lease of office space or purchase of an office building is typically much more complicated than a residential home purchases, and often involves significant financial risk.

  • Real Estate Contract to buy a commercial building, or unimproved land for development
  • Appraisal
  • LOI or Letter of Intent
  • Loan Agreement
  • Financing Agreement
  • Guaranty
  • Mortgage or Deed of Trust
  • Promissory Note
  • Assignment of Rents
  • Security Agreement
  • Improved Survey
  • Title Commitment before sale, Title Policy and Loan Policy after sale
  • Opinion of Legal Counsel – required in some transactions
  • Warranty Deed or Special Warranty Deed
  • Deed of Release
  • Certificate of Value – in some counties
  • Bill of Sale – if personal property is part of the transaction
  • Assignment
  • Resolution Authorizing Sale or Closing – if a corporation, LLC or limited liability company, and some partnerships
  • Commercial Lease – lease office or building space for a business
  • Estoppel Letter
  • Parking Agreement