As the due diligence discloses the exact scope of the asset and any
problems with it, each piece of information will affect what the larger
transaction should require of other parties both before and at the
closing, and investor’s negotiation of the documents that will govern
the transaction. That process, and negotiations generally, will force
investor to consider at least the following issues.

· Amenities. Identify any facilities or services benefiting the
property, understand ownership structure.

· Attachments. Identify exhibits and schedules to be attached, both
schedules to better describe the asset (lists of contracts, leases,
etc.) and exhibits setting forth the form of closing documents. Develop
and review all such attachments.

· Closing Arrangements. Plan ahead for closing documents, deliveries,
and events, including such matters as requirements for estoppel
certificates and nondisturbance agreements; termination of service
contracts; satisfying lender’s closing requirements.

· Contract Issues Generally. Wide range of contract issues, including
the due diligence process itself; amount of contract deposit and use of
letter of credit; representations and warranties and their survival and
credit support; assignment of any existing mortgages to new lender;
responsibility for costs arising from the transaction (termination fees
under service contracts, severance, transaction costs, etc.); allocation
of transfer taxes; survival of representations and warranties; interim
operations between contract and closing; responsibility for pending
construction; prorations (including timing and seasonality of
percentage rent); and numerous other issues, including any that arise
from the due diligence process.

· Coordination. If this transaction involves other transactions,
coordination of multiple simultaneous closings, exchange arrangements,
or other linkages.

· Memorandum of Contract. Record memorandum of contract?

· Publicity; Etc. Publicity and confidentiality.

· Recognition. If the property is subject to any existing mortgages,
possible agreements with the holders of those mortgages to protect a
purchaser’s rights.

My Family has a lot on Whyte Ave near Calgary Trail. I'm trying to advertise this property to find out what the public value will pay, not just the appraised value set by the municipality tax rate. One friend in a large reality firm asked his company appraiser for the minimum value per foot. We were told not to sell below $85. per foot on 17424 sq ft. of Whyte Ave Edmonton property. Now here is the question.... There is a surface lease with a client that has been there 40 years and still has a 5 year term to go on the current lease. But we want to sell it now.... The tenant has first right of refusal written in the contract.... ( No I did not write the lease contract ) Now if I tell him that we want $95.Cnd per foot on 17424 sq feet. and if they "the tenant"turn down the offer and come with a counter offer, We do not have to accept that offer and can now break the lease and sell? to the best offer on the table? Thus the new owner now becomes the new landlord and assumes the lease agreement with the tenant?

Thank you for your thoughts
Adam