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Product ID: 401398EAU
 
Credit & Course Provided by:

Subsequent Developers: Special Considerations and Potential Liabilities

OnDemand Webinar (89 minutes)

Gain an understanding of the unique risks associated with acquiring existing and distressed real estate projects.Buying existing developments, whether commercial or residential, carries added legal and financial risks not otherwise associated with ground-up development projects. These risks are further heightened when acquiring distressed property from bank foreclosure sales or under similar circumstances. Frequently, persons who acquire such developments fail to appreciate the additional due diligence and proactive measures required to successfully navigate subsequent developer liabilities or, in the case of bank REO acquisitions, how to quickly and efficiently assemble relevant property information from multiple independent sources. This topic provides subsequent owners with enhanced understanding of the unique risks associated with acquiring existing and distressed real estate projects, including both commercial and residential properties. Additionally, the content will explain the most common pitfalls of such acquisitions while simultaneously addressing how to mitigate and manage such risks to enhance overall project profitability.

Authors

Michael S. Rodgers, Polsinelli PC

Agenda

Property Conditions and Requirements

• Existing Permits, Including Land Disturbance and Storm Water

• Zoning and Development Conditions, Including Municipal Obligations

• Considerations for Title Examination and Title Insurance

• Existing Leases, Broker, Vendor and Other Agreements

Property Owner Associations (Commercial and Residential)

• Recorded and Unrecorded Governance Documents

• Developer Obligations, Including HOA Boards and Assessments

• Corporate Formalities for Owner Associations

• Successor Developer Liability and Insurance Considerations

Other Subsequent Developer Considerations

• Special Issues for Foreclosure and REO Properties

• Federal and State Land Sales Disclosure Filings

• Trademarks and Domain Names

• Expecting the Unexpected