How To Avoid The Ten Biggest Mistakes In Commercial Real Estate

Commercial Professional Resources (CPR) of Michigan conducts education panel May 15 at UHY LLC. Networking and continuing education credits provided.

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Commercial Professional Resources of Michigan

Collectively, CPR of Michigan's professionals have 150 years of real estate transactional experience.

FARMINGTON HILLS, Michigan (PRWEB) April 23, 2014

Real estate transactions gone wrong can cost practitioners and their clients thousands or millions of dollars.

CPR of Michigan, a newly formed consortium of experts in the fields of title and escrow, engineering and survey, appraisal, architecture, environmental, and accounting, offers educational programs that ease complicated transactions and helps real estate practitioners become leaders in their profession.

For example, one investor purchased a building and didn't realize that the parking lot was not included in the legal description. Another tenant signed a lease not knowing that another tenant’s lease prohibited his proposed use of the space.

Overlooking small transactional details like these can be costly, but the challenge for many practitioners is a lack of access to the diverse body of knowledge required to proficiently assemble complex real estate transactions.

Using an educational panel format, the team of experts shares the dangers of:

  • Starting construction before recording the mortgage
  • Accepting title commitment that does not match purchased property
  • Investing without consideration of future business-tenant needs
  • Unevaluated environmental condition of neighboring properties and utility infrastructure
  • Ignoring environmental due diligence and site and migration issues
  • Allocation of land, building and business not done to buyer’s tax advantage

CPR of Michigan's premier educational program is 3-5 pm, May 15, at UHY LLC. Registration is $30 and includes a two-hour State of Michigan Real Estate Continuing Education Credit Certificate and beer, wine, and hors d'oeuvres catered by Sweet Lorraine’s, which will be served at 5-6:30 pm following the class. To register, visit CPR of Michigan.

Michael Weinstein, Senior Sales Director of CoStar Group, the online commercial real estate information news and information site, and Michigan Commercial Board of REALTORS® (CBOR), which provides leadership, services, education, and professional standards to commercial real estate practitioners in Michigan, are sponsors of the event.

About Us
CPR of Michigan is comprised of:

  • Harry S. Ellman, President & Counsel, Fidelity Commercial Services LLC, a commercial real estate consulting firm.
  • Walter D. Quillico, President and Counsel, Title Connect, a title insurance agency.
  • Michael F. Kurshat, President, Kurschat & Company, a real estate appraisal and consulting firm.
  • Nicholas G. Maloof, President, Associated Environmental Services LLC, an environmental services, land development and real estate consulting firm.
  • Todd B. Tigges, Principal, UHY LLC, a professional tax and business consulting services firm.
  • Catherine M. DeDecker, Vice president, Spalding DeDecker Associates, Inc., an engineering and survey company.
  • Howard S. Ellman, President, Dynamic Designs, PC, a planning and architectural design firm.

Commercial Professional Resources (CPR) of Michigan is a consortium of professionals assembled to facilitate discussion about the interrelated fields and aspects involved in conducting commercial real estate transactions. Collectively, CPR’s seasoned professionals have over 150 years of real life real estate experience. It’s a one-stop team of professionals that have individually and collectively developed strategic relationships with financial institutions, attorneys, brokers, developers and other service providers and investors and have high-level expertise in the commercial real estate industry. The CPR team conducts educational panel discussions and continuing education on a range of topics imperative to successfully conducting real estate transactions. CPR may soon offer pre- and/or post-closing 3rd Party Review Services for owners and lenders as part of their due diligence activities.
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