[NOTE: The following sample questionnaire is used with the New York Commercial Realty Contracts Library. If you ordered the library for some other jurisdiction, some of the questions and terms would be different.]

COMMERCIAL REALTY CONTRACTS QUESTIONNAIRE

Identify Seller: 
 
  Name(s): 
 
  Address(es): 
 
 
  Phone: 
  __male  __female  __corporation  __partnership  __LLC 

Identify Purchaser: 
 
  Name(s): 
 
  Address(es): 
 
 
  Phone: 
  __male  __female  __corporation  __partnership  __LLC 

You represent:  __Seller  __Purchaser 
 
If the other party is represented by an attorney: 
  Name: 
  Firm: 
  Address: 
 
  Phone: 
 
If there is one or more BROKER - 
 
  Name(s): 
 
  Address(es): 
 
  Phone(s): 
 
  __prepare brokerage agreement for __Seller/__Purchaser 
    commission is ___% of purchase price, or $ 
 
Identify premises - 
 
  Street Address: 
  Common Name: 
  City: 
  County: 
  State: 
  Number of parcels:  __one  __other: 
  Section: 
  Block: 
  Lot: 
  [metes and bounds will be Exhibit A] 
 
USE of premises - 
  __an apartment house       __industrial/manufacturing 
  __garden apartments        __mixed use - office and com'l
  __an office building       __mixed use - office and res'l 
  __a shopping center        __mixed use - res'l and com'l
  __a house 
  __vacant land              __other: 
 
ESTATE being sold - 
  __fee title - both land and buildings 
  __land only 
  __buildings 
  __a leasehold estate 
  __leasehold and fee title 
  __leasehold and land 
  __leasehold and buildings
 
Personal property to be expressly included or excluded: 
 
 
 
 
 
How is the purchase price to be paid - 
  __all cash without a bank loan contingency  [usually] 
  __all cash WITH a bank loan contingency 
    Contingent for how many days: 
    Amount of loan: $ 
    Amortized over how many years: 
    __Purchaser to represent annual earnings: $ 
__cash and taking subject to EXISTING Mortgage 
__cash and PURCHASE MONEY Mortgage 
__cash, EXISTING Mortgage and subordinate PM Mortgage 
__cash and PM WRAPAROUND Mortgage 
__cash and PM NOTE secured by a LETTER OF CREDIT 
__cash, EXISTING Mortgage and PM NOTE and L/C 
__no cash at closing, just: 
  __EXISTING Mortgage  __PM Mortgage  __EXISTING Mortgage and subordinate PM Mortgage
  __PM WRAPAROUND Mortgage  __NOTE and L/C  __EXISTING Mortgage, NOTE and L/C 
 
TOTAL PRICE: $ 
downpayment: $ 
cash at closing: $             [__Federal Funds] 
amount of EXISTING Mortgage: $ 
amount of PURCHASE MONEY Mortgage: $ 
amount of PM WRAPAROUND Mortgage: $ 
amount of PM NOTE and L/C: $ 
 
If premises sold subject to an EXISTING Mortgage - 
  __one  __more than one 
  Identify EXISTING Mortgage: 
 
 
May it be accelerated by __sale of premises or __subordinate mortgage - if so, __bank's 
   consent is to be a condition (and whether either party is to pay to get consent, time 
   for doing so): 
 
 
The purchase price is to be - __fixed amount above balance of EXISTING Mortgage at closing,
   or __If EXISTING Mortgage is greater or less than anticipated - __adjust cash at closing 
   __adjust PM NOTE [__first vs __last installments] 
 
If this sale involves the sale of a leasehold estate - 
  Identify Ground Lease: 
 
Is Ground Lessor's consent required for __sale of premises or __placing a mortgage - if so,
   __consent is to be a condition (and whether either party is to pay to get consent,  time 
   for doing so): 
 
 
If there are to be a PURCHASE MONEY NOTE (and Mortgage) - 
  __non-recourse 
  __expressly prepayable without penalty 
  __a prepayment premium: ___% of principal 
  __higher rate of interest after default: ___% 
  __a fixed late charge: ___% of amount due 
  __due on sale 
  __prohibit any further mortgage 
  __must maintain flood insurance 
  __escrow deposits for taxes & insurance 
  __to sign non-disturbance agreements with tenants 
  __to provide title insurance to Seller 
  __payment of attorneys' fees if foreclosed  [___% of principal, __minimum fee: $          ] 
  __Seller's attorneys to be paid preparation fee: $ 
  __short form of mortgage 
  __prepare a rider rather than entire Mortgage  [__use Blumberg form - No. of last article:    ] 
  __LETTER OF CREDIT to be issued by a specific bank   Name: 
  Payment terms of NOTE: 
 
 
 
 
 
 
 
EXCEPTIONS TO TITLE - 
  __any covenants, easements or title exceptions, such shown in title report [Exhibit B] 
  __a survey: 
 
  __any leases or tenancies: 
  __apartments 
  __rent stabilized 
  __rent controlled 
  __premises is to be converted (so Seller to provide financial statements) 
  __ordinary space leases 
  __a "net" or "operating" lease 
  __one major lease of entire premises 
  __a "lease-back" of __a portion/__entire premises to Seller 
 
__Seller not to lease vacant space (Purchaser pays reasonable compensation) 
__estoppel letters from specific tenants to be delivered at closing 
__service contracts 
__agreements with employees  [__union contract to be assumed] 
__other: 
 
 
__Seller is to represent that there are no hazardous substances on the premises 
 
Re violations - 
  __Purchaser accepts violations issued after the contract (but Seller will be
    responsible for prior violations)
    [__but Seller shall not have to pay more than $          ] 
  __Purchaser accepts all violations whenever issued 
  __Seller must remove all violations 
  __contract to be silent on subject 
 
Re any defects to title - 
  __Purchaser is to search title and provide the title report to Seller [within ___ days 
    after contract, or ___ days before closing] 
  __Purchaser may search title without using a title company 
  __Seller is to provide a title abstract to Purchaser 
 
Is the deed to be - 
  __bargain and sale deed WITHOUT covenant against grantor's acts 
  __bargain and sale deed WITH covenant against grantor's acts    
  __general warranty deed 
  __special warranty deed 
  __quitclaim or other deed without warranty or recourse 
  __other: 
 
__contract to discuss condemnation or casualty loss 
 
__Seller to remain in possession after closing 
  How many days:       
  Any per diem payment: $           
  Any days without fee:      
  Any deposit to secure delivery of possession: $         
 
Are there going to be closing adjustments for - 
  __real estate taxes 
  __water & sewer  [__metered] 
  __rent under leases  [__and "additional" rent] 
  __oil 
  __gas 
  __coal 
  __electricity  [usually not adjusted] 
  __other: 
 
 
__tax reduction proceeding pending 
__transfer tax to be paid by Seller 
__Seller expressly to pay any sales taxes on personal property 
__errors in computing apportionments to be corrected after closing 
 
__downpayment to be held in escrow 
  __escrow to terminate when mortgage contingency elapses 
  Escrow agent is __your firm  __other: 
 
__downpayment to be liquidated damages 
 
__contract to provide for a tax free exchange (IRC 1031) 
 
__contract to prohibit assignment 
  __but may assign to affiliate 
  __consent to assignment not to be unreasonably withheld 
 
__prepare just a RIDER (rather than entire contract) 
 
__prepare a short form of contract 
 
__prepare a Purchaser's form of contract, rather than a form biased in favor of Seller

Is Seller to represent that - 
  __equipment will be in working order 
  __insurance policies are being maintained 
  __zoned for: 
  __assessed valuation - land $        buildings $ 
  __other: 
 
__contract may be recorded  [__prepare memo of contract] 
 
Date of contract: 
 
Date of closing:                    [__time of the essence] 
 
Place of closing: 
 
 
     __or at offices of Purchaser's lender 
 
Are notices to be given to parties - __and attorneys  __just attorneys,  
 
Prepare - 
  __closing documents 
  __backs 
  __acknowledgments 
  __witnessing and attestation