Buying or selling commercial property can be a complex process. Conducting a transaction without the assistance of real estate attorneys can have serious consequences if mistakes are made. A lawyer can help you navigate common hurdles you may encounter and help to ensure your sale or purchase goes off without a hitch.
Why Do I Need A Real Estate Lawyer?
Real estate is a complicated area of the law, and there are many different steps you must take to ensure a transaction is valid and your rights are protected. An attorney can help you understand the ins and outs of commercial financing, buying, selling, and developing a property. Some other issues they can assist you with include:
- Land use and development
- Environmental issues
- Title, ownership, and deed issues
- Property liens
- Title insurance
- Sale price negotiations
- Real estate sales agreements and other contracts
Having a commercial real estate attorney help you negotiate the sale can help you get the most for your money, whether you are buying or selling. Your lawyer can also draft and review contracts, help you understand the purchase agreement, and be by your side at the closing to address any concerns or answer any questions you may have. An experienced commercial real estate attorney will be able to identify questionable contract terms and potential pitfalls.
Many real estate attorneys also have relationships with financial institutions and can help connect you with financing, tax abatement programs, and small business loans and grants. Their knowledge and counsel can make buying or selling a commercial property much less stressful, especially if you are unfamiliar with the process.
Choosing an Attorney
When looking for a lawyer, you want to make sure you select a law firm with specific experience in commercial real estate transactions. These types of deals can be much more complex than residential sales and purchases, so you need someone who is familiar with the process. In addition to having experience in commercial real estate, they should be well-versed in construction law, business law, banking and finance law, and tax law. Your lawyer may also be able to help you with other legal issues after the sale, such as property management contracts, leases, and other matters.
Updating your estate plan after any major purchase or sale is also a good idea. Local lawyers for wills and living trusts lawyers can help you determine the best way to protect your assets, whether you are making a new purchase or you have received cash for a building you sold.
The attorneys at Carosella & Associates have extensive experience providing legal counsel to individuals and businesses in commercial property transactions. Whether you are an experienced real estate developer or a first-time buyer, our team can help protect your rights and interests and keep the process on track.