Purchasing and Selling Commercial Real Estate Toolkit (NJ) | Practical Law

Purchasing and Selling Commercial Real Estate Toolkit (NJ) | Practical Law

Resources to assist counsel to purchasers and sellers in understanding, negotiating, and closing a commercial real estate purchase and sale transaction in New Jersey. This Toolkit also contains links to ancillary agreements related to a commercial real estate purchase and sale transaction. 

Purchasing and Selling Commercial Real Estate Toolkit (NJ)

Practical Law Toolkit w-031-2269 (Approx. 11 pages)

Purchasing and Selling Commercial Real Estate Toolkit (NJ)

by Practical Law Real Estate
MaintainedNew Jersey
Resources to assist counsel to purchasers and sellers in understanding, negotiating, and closing a commercial real estate purchase and sale transaction in New Jersey. This Toolkit also contains links to ancillary agreements related to a commercial real estate purchase and sale transaction.
Purchasing and selling commercial real estate in New Jersey is often a complex, lengthy process with many different components. Although every transaction has its own set of nuances, most commercial real estate purchase and sale transactions follow the same workflow. The general steps include:
  • Selecting a broker.
  • Drafting and negotiating the brokerage agreement.
  • Drafting and negotiating the letter of intent.
  • Drafting and negotiating the purchase and sale agreement.
  • Conducting or managing the due diligence investigation, which typically includes:
    • property inspections;
    • environmental review;
    • title review;
    • review of zoning and other entitlements; and
    • lease review.
  • Handling ownership and joint venture matters.
  • Satisfying pre-closing conditions and preparing for closing.
  • Closing title.
  • Resolving post-closing items.
Purchasers and sellers have their own set of unique objectives and both try to limit their liability at every stage of the process. This Toolkit contains links to continuously maintained Practice Notes, Standard Documents and Clauses, Checklists, and State Q&As to help counsel for purchasers and sellers manage the transaction from the preliminary planning stage through the closing of the transaction.
This Toolkit provides links to resources designed to provide guidance to purchasers and sellers on certain aspects of a commercial real estate purchase and sale transaction in New Jersey. In addition to the New Jersey specific resources and guidance, this Toolkit also includes links to several jurisdictionally neutral commercial real estate purchase and sale resources. These resources include forms and discuss issues that are useful and relevant to purchasers and sellers in every state, including New Jersey.

Standard Documents