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Commercial Real Estate Sellers - Ten Additions to a Buyer's Contract | Baker Donelson
Source: bakerdonelson.com
Article summary:
1. The buyer's draft of a Contract for the sale of a commercial property may not include certain provisions that the seller would want included.
2. Ten such provisions are listed, including language stating that there is no binding agreement until a final Contract is executed and delivered, and limiting the survival of representations and warranties.
3. The article also discusses the need to define what "knowledge" means in terms of representations and warranties made by the seller.
Article analysis:
The article provides an overview of ten additions to a buyer's contract that sellers should consider when negotiating the sale of a commercial property. The article is written from the perspective of sellers, providing advice on how they can protect their interests in such transactions. The article does not provide any counterarguments or perspectives from buyers, which could be seen as biased towards sellers' interests. Additionally, some claims made in the article are unsupported by evidence or sources, such as when it states that buyers have been known to take the position that an unexecuted Contract constitutes an enforceable agreement - this claim should be supported with evidence or examples to make it more reliable and trustworthy. Furthermore, some potential risks associated with these additions are not noted in the article, which could lead readers to overlook them when considering whether or not to include them in their contracts. In conclusion, while this article provides useful information for sellers looking to protect their interests in commercial real estate transactions, it should be read critically due to its lack of balance between both sides' perspectives and its lack of evidence for some claims made.