| name | real-estate |
| description | Real estate law skill for property transactions, leases, and land use. Use when the user needs assistance with real estate closings, lease agreements, title review, zoning, easements, or property disputes. Triggers on keywords like "real estate", "property", "lease", "landlord", "tenant", "title", "deed", "mortgage", "closing", "zoning", "easement", "commercial lease". |
Real Estate
This skill provides expert guidance for real estate transactions, leasing, and property law matters.
Core Capabilities
1. Transactions
- Purchase and sale agreements
- Title review and insurance
- Due diligence
- Closings
2. Commercial Leasing
- Lease negotiation
- Lease abstraction
- Tenant improvements
- Lease administration
3. Financing
- Mortgage documentation
- Loan agreements
- Security instruments
4. Land Use
- Zoning analysis
- Permitting
- Entitlements
- Environmental compliance
Purchase and Sale Transactions
Transaction Timeline
LOI → PSA Negotiation → Due Diligence → Title Review →
Financing → Survey → Closing → Post-Closing
Purchase Agreement Key Terms
| Section | Key Issues |
|---|
| Purchase Price | Amount, earnest money, adjustments |
| Due Diligence | Period, scope, termination rights |
| Title | Commitment review, permitted exceptions |
| Survey | Requirements, objection process |
| Representations | Environmental, litigation, leases, compliance |
| Conditions | Financing, tenant estoppels, approvals |
| Closing | Date, location, deliverables |
| Prorations | Taxes, rents, operating expenses |
| Default | Remedies, liquidated damages, specific performance |
Due Diligence Checklist
Physical
Financial
Legal
Governmental
Title Review
Standard Exceptions to Remove
- Rights of parties in possession
- Survey matters
- Mechanic's liens
- Taxes not yet due
- Special assessments
Common Title Issues
| Issue | Resolution |
|---|
| Mortgage liens | Pay off and record satisfaction |
| Judgment liens | Obtain release or pay |
| Tax liens | Pay and obtain certificate |
| Easements | Analyze impact, may be acceptable |
| Restrictive covenants | Review for conflicts with intended use |
| Gaps in chain | Obtain affidavits, quiet title |
Title Insurance
Owner's Policy: Protects buyer's ownership interest
Lender's Policy: Protects mortgagee's security interest
Common Endorsements:
- Access
- Survey/location
- Zoning
- Contiguity
- Restrictions
- Tax parcel
Commercial Lease Structure
Lease Types by Expense Allocation
| Lease Type | Tenant Pays |
|---|
| Gross | Base rent only |
| Modified Gross | Base rent + some expenses |
| Triple Net (NNN) | Base rent + taxes + insurance + CAM |
| Absolute Net | Everything including structural |
Key Lease Provisions
Business Terms
- Premises description and measurement
- Lease term (commencement, expiration)
- Rent (base, escalations, percentage)
- Security deposit
- Permitted use
Operating Provisions
- Operating expense pass-throughs
- CAM calculation methodology
- Expense caps and exclusions
- Audit rights
- Gross-up provisions
Construction/Improvements
- Tenant improvement allowance
- Work letter
- Plans and specifications
- Change orders
- Substantial completion
Tenant Rights
- Renewal options
- Expansion rights
- Right of first offer/refusal
- Exclusivity
- Co-tenancy
- Relocation rights
- Termination rights
Landlord Protections
- Use restrictions
- Assignment/subletting controls
- Continuous operation
- Radius restrictions
- Recapture rights
- Financial reporting requirements
Lease Abstraction Template
LEASE ABSTRACT
BASIC INFORMATION
Tenant:
Landlord:
Premises:
Lease Date:
Commencement:
Expiration:
Square Footage:
RENT
Base Rent: $____ PSF / $____ per month
Escalations:
Percentage Rent:
ADDITIONAL RENT
CAM:
Taxes:
Insurance:
Base Year/Stop:
OPTIONS
Renewal:
Expansion:
ROFR/ROFO:
Termination:
KEY DATES
Rent Commencement:
Option Notice Deadlines:
Lease Expiration:
SPECIAL PROVISIONS
Exclusivity:
Co-Tenancy:
Kick-Out Rights:
TENANT IMPROVEMENTS
Allowance: $____ PSF
Delivery Condition:
Financing Documents
Loan Document Checklist
Key Loan Terms
| Term | Description |
|---|
| LTV | Loan-to-value ratio |
| DSCR | Debt service coverage ratio |
| Interest Rate | Fixed, floating, caps |
| Prepayment | Penalty, yield maintenance, defeasance |
| Reserves | Taxes, insurance, TI/LC, capital |
| Recourse | Full, partial (carve-outs), non-recourse |
| Financial Covenants | Ongoing requirements |
Carve-Out Guaranty Triggers
- Fraud
- Misappropriation of funds
- Voluntary bankruptcy
- Environmental liability
- Waste
- Prohibited transfers
- SPE covenant violations
Zoning and Land Use
Zoning Analysis
- Verify current zoning classification
- Check permitted uses
- Review dimensional requirements
- Identify variance/special permit needs
- Check overlay districts
- Review comprehensive plan
Common Zoning Requirements
- Setbacks (front, side, rear)
- Height limitations
- Floor area ratio (FAR)
- Lot coverage
- Parking requirements
- Signage regulations
- Landscaping requirements
Entitlement Process
Pre-Application → Application → Staff Review →
Public Hearing → Planning Commission →
City Council/Board → Permits
Closing Process
Seller Deliverables
Buyer Deliverables
Closing Statement Items
- Purchase price
- Earnest money credit
- Prorations (taxes, rents, CAM)
- Title insurance premiums
- Recording fees
- Transfer taxes
- Attorney fees
- Escrow fees
Integration with Other Skills
- contract-lifecycle: Lease and PSA review
- due-diligence: Transaction due diligence
- environmental-law: Environmental compliance
- corporate-ma: Real estate in M&A
- tax-law: 1031 exchanges, REIT issues
Reference Files
For detailed guidance:
references/lease-forms.md - Commercial lease templatesreferences/closing-checklist.md - Transaction closing guidereferences/title-review.md - Title examination procedures
