What Role Does a Real Estate Attorney Play in Buying a Business Property?

Monday, March 8, 2021

Buying business property involves a significant amount of background work and documents to prepare. While you may be a professional and experienced in your career field, the legal details surrounding commercial property must be left to the professionals.

Here is why you need a commercial real estate attorney.

They Are Pros at Document Control

There are several documents required in negotiating the sale of a commercial building. There are title searches to prepare, purchase agreements, financing documents, insurance policies, and transfer of funds paperwork.

Each one has its own set of specific details necessary to complete correctly and move the process along. A commercial real estate attorney is aware of all the different aspects of this type of sale and knows how to keep your interests covered.

Speaking of documents, make sure all of your investments and future wishes are protected by preparing a will.

They Understand Time Is Money

You have, or will soon have, a business to run. There are many things to juggle and stay on top of. The last thing you have time for is the real estate details.

That's where your real estate attorney comes in. They handle off the important negotiations, ask the necessary questions, and cover all the bases so you can move on with what you do best.

A Real Estate Attorney Will Find Any Hidden Issues

The property and building may look great and the price seems fair, but is there something you are missing?

Are there environmental issues that could affect your business or the sale? Is there an outstanding tax lien? Or underlying structural damage that isn't apparent?

Don't assume everything is as it appears. Trust your experienced real estate lawyer to investigate all potential issues and confirm this is the right property for your business and your bank account.

They Understand Zoning Laws

Zoning laws are complex and depending on your type of business and future marketing plans, you need someone knowledgeable in this area.

A real estate attorney not only understands these laws but can guide you in securing the best property for your current business model as well as future expansion or even sale.

They Will Fight for a Fair Price

Life is all about negotiations. When buying commercial real estate property, each side has a financial goal. Yours is to find the best deal to further your career path.

Your attorney is your partner in making sure you find the best price and will always look for ways to save you money.

They Follow Through to the Closing

Not all states require a real estate lawyer to be present during the closing, but it is in your best interests to have one there.

They will bring all the necessary documents and will assist with any last-minute problems or questions. You have trusted them this far, and they will follow the process to completion.

Don't Go It Alone

Buying a new business property is an exciting venture. You have many plans for the future. Make sure you don't go it alone. Team up with an experienced real estate attorney to guide you through the process.

We want to be your partner for all your real estate, estate planning, and social security benefit needs. Contact us today so we can work for you.

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