Buying, renting, or selling commercial real estate can be one of the most important financial steps in a person’s life. That’s why it’s critical to get these types of transactions right the first time. A legal professional who specializes in real estate law can keep you from making the kinds of mistakes that can lead to big problems associated with property purchases or sales.
Here are just a few of the some of the ways a real estate lawyer can guide you to a satisfactory conclusion on your deal. And remember, RS Law Group handles Real Estate law.
Complex and Detailed Legal Documents
One of the most significant reasons commercial real estate transactions need legal counsel is because they involve such a high number of contractual agreements. Commercial real estate contracts have lots of complex clauses that deal with financing, lease agreements, zoning laws, property use restrictions, and liability issues.
A good real estate attorney can carefully review these documents and make sure that their client’s interests are protected and that there aren’t any hidden unfavorable terms buried in legalese.
If the documents aren’t reviewed and the clauses aren’t understood, the parties involved may find themselves stuck in a situation where they have to honor unfavorable agreements.
Proper Vetting of Properties
Another vital facet of commercial real estate legal guidance is due diligence, which involves careful and complete investigation of the property’s history and its title records, any zoning restrictions, and any pending environmental and/or legal issues.
This can include anything from a property lien to unresolved boundary disputes. RS Law Group handles Real Estate law, and this is a very common aspect of property law.
Remaining Compliant with Laws and Regulations
Another area where legal know-how is required is regulatory compliance. Commercial real estate transactions must comply with a range of laws, including local, state, and federal. Even foreign laws may apply when a foreign entity is involved.
These laws cover everything from land use to environmental regulations to tax codes (what are the tax implications of this deal?). Failure to comply with any of these laws can result in penalties, fines, or even criminal prosecution. And, of course, being sued is also possible.
Negotiation, Mediation, and Litigation Experience
Commercial real estate deals hinge on the negotiation process; having a good lawyer can give you a significant leg up. This is because attorneys are not only trained in the art of negotiation but also what to expect and how to proceed if the deal goes south. Moreover, legal practitioners have an indispensable part in resolving disputes and in the litigation process.
Conflicts can arise in commercial real estate transactions despite the best of intentions between all parties. Mediation and arbitration are the most peaceful methods of resolving real estate disputes, but if they fail, litigation will likely be necessary.
If You Need Assistance with Your Property Dealings, RS Law Group Handles Real Estate Law
You simply cannot overstate the importance of legal direction in commercial real estate transactions. Real estate attorneys supply priceless know-how that protects investments and smoothes the way toward successful transactions.
At every step in commercial real estate – whether for an investment, development, or business purpose – you really should engage legal counsel. Doing so is an assured way to work through the inevitable complexities of commercial real estate and to position yourself for a successful closing.
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