Due Diligence in Commercial Real Estate Transactions Assignment

Assignment Task

Apply course learnings in a case study application to undertake initial contractual due diligence and draft key clauses, and address key issues, in a proposed contractual disposal contract.

This task will provide the students with an opportunity to prepare a contract considering and protecting rights of the vendor in a case study based real estate development transaction.

Objective

Demonstrate an understanding of contract law, contractual documentation, and statutory application to a real world setting, and reflect on how property laws impact your practice in property development.

Task instructions

The company you work for was the successful bidder for the development site at 2 Frederick Street Wollongong NSW 2500

The company is 3 months into a 12 month Put and Call Option, but a sudden uplift in the market means the company you work for wants to on-sell the site for a substantial profit.

As part of your role, you are required to prepare a brief to management to advise them of two scenarios:

Nominating a Buyer under the nomination clause of the Call Option; or Selling the individual Lots on ‘Off the Plan’ contracts. Prepare a detailed brief that considers the legal position of your company and potential buyers.

Consider

Contract specification, and how that would differ between the two scenarios above. Stamp Duty Issues. 

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