# Real Estate Transaction Summary — Section Outline

Detailed expected fields for each section of the transaction summary. SKILL.md keeps a numbered list of section names; this file is the authoritative content spec.

Produce sections in this order. Every section must appear in the deliverable, even if the content is "None identified" — silent omission obscures coverage.

## 1. Property Information

Legal description, street address, parcel ID / APN, type and use, size, zoning, easements, encumbrances, recorded restrictions, included fixtures, included personal property, excluded items.

## 2. Financial Terms

Earnest money (amount, holder, deposit deadline, refundability triggers), down payment, loan amount, loan type, seller financing terms (if any), price allocations (land / improvements / personalty for tax purposes), credits, adjustments, prorations.

## 3. Parties and Roles

Buyer (legal name + entity type + state of formation if entity), seller (same), buyer's counsel, seller's counsel, listing broker, selling broker (with commission structure and split), title / escrow agent, lender, guarantors, assignees, special relationships (e.g., affiliated parties, repeat-counterparty disclosure).

## 4. Key Dates and Deadlines

Chronological table:

| Date | Deadline | Consequence of Missing |
|---|---|---|

Flag every "time is of the essence" provision. Convert relative dates ("30 days after execution") to actual calendar dates. Include: effective date, EMD deposits, inspection period end, repair-request and resolution dates, appraisal contingency, financing application and commitment, title-commitment delivery / objection / cure, survey deadlines, HOA document delivery / review, closing date, possession date, post-closing rent-back end (if any).

## 5. Contingencies and Conditions Precedent

For each contingency:

- **Condition** — what must happen.
- **Responsible party** — who must perform.
- **Deadline** — when.
- **Remedy if unsatisfied** — typically termination + EMD return, repair request, renegotiation, or waiver.

Cover: financing, inspection, appraisal, title, sale of buyer's property (if applicable), zoning approvals, tenant estoppels (commercial), governmental approvals, environmental, due diligence (commercial).

## 6. Buyer Obligations

Earnest money deposit, financing commitment, inspections, title and survey review, insurance procurement, walk-through, closing funds, post-closing duties (lease assumptions, rent-back compliance, indemnities).

## 7. Seller Obligations

Property maintenance through closing, disclosures, title cure, repairs, possession delivery, representations and warranties surviving closing, indemnities, post-closing obligations.

## 8. Closing Conditions and Procedures

Closing method (in-person / mail / electronic), location, cost allocation by line item, prorations (taxes, HOA, rents, utilities), required deliverables per party (deeds, bills of sale, affidavits, settlement statements), recording requirements, escrow instructions.

## 9. Title and Survey Matters

Exceptions to coverage, curative requirements, easements, encroachments, boundary issues, owner's policy amount, lender's policy amount, endorsements requested. Cross-reference `title-commitment` for review of the commitment itself.

## 10. Risk Allocation and Remedies

Risk of loss prior to closing, default remedies (specific performance, liquidated damages, EMD forfeiture / return), earnest money disposition by scenario, dispute resolution (mediation / arbitration / litigation), attorneys' fees provision, liability caps, indemnification.

## 11. Special Provisions

Rent-back / early occupancy, assignment rights, 1031 exchange accommodations, environmental indemnities, non-competes, confidentiality, broker representations, "as-is" provisions.

## 12. Legal and Regulatory Compliance

Required disclosures (federal: lead-based paint for pre-1978; state: e.g., natural hazard, septic, radon, water rights), HOA approval requirements, transfer taxes, FIRPTA withholding (foreign sellers), fair housing, ADA (commercial), environmental regulations (commercial).

## 13. Matters Requiring Attention

Always present. Three sub-categories:

- **Missing material terms** — required fields not in the documents.
- **Document conflicts or ambiguities** — source documents disagree; show side-by-side.
- **Risks needing resolution before closing** — conditions, deadlines, or open questions that, if left, will surface at closing.

If the deal genuinely has no issues, write "None identified" — but this is rare on a real transaction and warrants a re-read.

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## Residential vs commercial — section deltas

The 13 sections apply to both, but emphasis shifts:

| Section | Residential focus | Commercial focus |
|---|---|---|
| 1 Property | Single parcel; condo/HOA common | Multiple parcels possible; ground leases, common-area easements, environmental zoning |
| 3 Parties | Individuals, occasionally trusts | Almost always entities; vesting language matters more; guarantors common |
| 5 Contingencies | Inspection, appraisal, financing | Plus due diligence, tenant estoppels, environmental Phase I/II, zoning approvals |
| 9 Title | Standard owner's policy + lender's | Often expanded coverage; ALTA endorsements (zoning, access, contiguity) |
| 11 Special | Rent-back, repair credits | 1031 exchanges, environmental indemnities, leases-with-options |
| 12 Compliance | Lead-based paint, state hazard disclosures | Environmental statutes, ADA, zoning compliance, FIRPTA more frequent |

When the matter is commercial, augment the named sections accordingly; do not introduce a separate skill.