Question

Description:

You are in charge of real estate acquisitions for Malvern Associates, Inc., a real estate development company. Malvern is interested in purchasing for $5 million a shopping center owned by Carson Properties, Inc. which owns and manages several shopping centers.

(A)         Draft an offer to purchase the shopping center. State terms which meet the requirements of the law plus give you the most control of the offer. Describe the relevant law.

(B)         Now you represent Carson. Your company believes the price is too low. Draft a response to the Malvern offer making sure to leave your options open. Discuss the relevant law.     

Answer 1

OFFER TO PURCHASE REAL ESTATE

THIS OFFER IS TO PURCHASE REAL ESTATE (the offer)

IS MADE BY:

Malvern Associates, Inc.,

(BUYER)

TO

Carson Properties, Inc.

(SELLER)

Offer to purchase

The buyer wishes to submit an offer to purchase a shopping center owned by the seller under the following terms given below:

1. The shops owned and managed by Carson in this shopping center would also be transferred to the buyer.
2. The price offered would include all the things attached with the shopping center.
3. The seller would be given appropriate time to think about the offer.

Purchase price:

The total amount offered by the buyer to the seller for the shopping complex is $5 million. This amount shall be paid through certified cheque or bank draft and the amount would be released only when the sale deed is registered.

Closing & Possession:

The offer shall close from two days of receiving this purchase offer.

Malvern Associates, Inc.                                                                            13/09/2019

XYZ Road, NY