Question
Review the contract for purchase and sale of a retail shopping center shown as Exhibit 74, and answer the following questions. Answer the questions in
Review the contract for purchase and sale of a retail shopping center shown as Exhibit 74, and answer the following questions. Answer the questions in detail, making reference to the contract paragraph number you used as authority for your answer
a. How much is the brokerage commission in connection with this sale, and who is responsible for paying it?
b. Who is the holder of the real estate note and deed to secure debt that is going to be assumed by the purchaser in connection with this transaction?
c. What is the name of the property being sold?
d. What percentage of the tenant estoppels must the seller obtain?
e. Under what terms is the purchaser willing to consent to new leases on the property from the date of contract to the date of closing?
f. How many net rentable square feet are contained in the property being bought and sold?
g. Where is the closing to take place?
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