commercial real estate contract terms

the time and money spent to create a thorough and complete contract will be returned ten-fold if conflicts arise. accordingly, if a party views the language in a “whereas” clause to be a binding right or duty, it has to be taken out of the contract’s recitals, and included in the body. if personal or other property is included in the sale, the parties may, generally for tax purposes, allocate what portions of the purchase price are attributable to the land, the personal property, and the other property interests conveyed. because a buyer won’t know everything it needs to know about the property at the time the contract is signed, it will be given a certain amount of time to review those aspects of the property it believes important. he had a big model made up of the villas to show city council.