If your business has grown in the last year, you might be thinking of buying a commercial real estate property, so you have further room to expand and have a better office location for your operations. Or maybe, you are a residential real estate investor and now are ready to get into investing in commercial property too.
You aren’t that familiar with the commercial real estate process though. You wonder if you should consult an attorney in this process. How can an attorney help you with a commercial real estate transaction?
Here are six reasons having an attorney help with a commercial real estate transaction is beneficial:
- An attorney with real estate law experience can complete a title search of properties you are interested in, to ensure who has legal ownership of the property and if the property has any liens against it.
- An attorney can help you understand the zoning laws of potential properties and evaluate if you could get the zoning changed to boost a property’s development potential.
- An attorney can help you understand any easement or environmental concerns that a property may have in commercial use.
- An attorney can help you negotiate your commercial property purchase, ensuring the deal meets your best interests.
- An attorney can review the final purchase contract, to ensure you don’t face any potential pitfalls by signing it.
- An attorney can prepare and help negotiate commercial lease agreements with any tenants for your newly purchased commercial property.
While you may feel hesitant to pay an attorney for helping you in your commercial real estate purchase, you likely can save time and money in the long run. You don’t want a commercial real estate deal to go wrong, leading to a costly dispute or unforeseen problem. You also don’t want to waste time trying to figure out the legal implications of buying one commercial property over another. With an attorney’s help, you can make a better-informed decision and have help dealing with any challenges you face when completing a commercial real estate transaction.