TELESEMINAR: Negotiating and Drafting the Purchase of Bank-Owned Commercial Real Estate - A National Perspective
February 21, 2012
12:00 – 1:00 p.m.
1.00 MCLE hours
Telephone
More real estate – both commercial and residential – is owned by banks than ever before. The economic slowdown, credit and refinance crises, and several waves of foreclosures have left banks with an unprecedented inventory of unwanted property. But it is property they cannot long hold on their balance sheets – and must sell. These bank-owned properties can be substantial opportunities for clients seeking to buy at steep discounts and restructure. But the manner in which they must be bought comes with special challenges – above all diligence when information is scarce and time is short. This program will provide you with a practical guide to process of acquiring financially distressed properties from banks, both in foreclosure and after, with a particular emphasis on understanding how banks think about these properties and pressing need for due diligence.
Highlights:
- Process, timing and techniques for acquiring bank-owned properties
- Understanding how banks think about these properties – and formulating an economic and negotiating strategy
- Urgent need for quick diligence – what you need to know, how to get it, and from whom
- Issues for buyers arising from litigation challenging the validity of foreclosures
- Techniques for acquiring properties out of foreclosure and once the bank owns the properties
- Risk management – how to limit liability for what you cannot learn in diligence
For more information about ISBA's Teleseminar programs, please visit: http://www.isba.org/cle/teleseminar
Program Speaker:
Richard R. Goldberg, Ballard Spahr, LLP, Philadelphia