In today's law firms, little time is available to train and mentor younger lawyers for taking on real estate work. The newer lawyer now has to deal with more forms, regulations, and potential complications than ever, but time constraints and the demands of hourly billing often necessitate a...
In today's law firms, little time is available to train and mentor younger lawyers for taking on real estate work. The newer lawyer now has to deal with more forms, regulations, and potential complications than ever, but time constraints and the demands of hourly billing often necessitate a trial-and-error approach to the process rather than learning through observation and questioning. Although From Handshake to Closing: The Role of the Commercial Real Estate Lawyer was written especially to meet the needs of the lawyer entering into the practice of real estate law, it also suggests new approaches and ways of solving problems which will enhance the practice of more experienced attorneys.
From Handshake to Closing explains the lawyer's critical role in documenting, reviewing, and negotiating the real estate transaction, from the beginning of the deal through post-closing issues. This useful mentoring guide ncludes valuable sample language, examples taken from practice, and insightful tips and techniques for how to assist that client tomake and close the deal. Sidney G. Saltz, a veteran real estate lawyer, draws upon his years of practice as a general real estate lawyer to describe the typical situations and stages of a deal and how to get it closed, including:
From Handshake to Closing
- The role of the real estate broker and how to develop a lawyer-broker relationship that will benefit the client
- Pre-documentation documents: the term sheets letters of intent, or loan commitment
- Documenting the transaction and creating the "law" of the deal
- Reviewing and analyzing documents, illustrated by sample concerns and questions
- Effective rules for communicating comments to the cient and to the counterpart lawyer, preparation for negotiation, and negotiating to documents
- Other issues, including due diligence checklist
- Preparing for and handling the closing
- Avoiding the pitfalls that can kill a deal
provides logical and wise commentary on the key steps in a real estate transaction, demonstrating how a thorough understanding of the fundamentals can successfully lead to a heartfelt handshake that completes the closing. In addition to many changes and updates throughout the text, this revised edition includes an index and bibliography.