when to hire a commercial real estate attorney

Full Answer

Do I need a lawyer to buy a commercial property?

Commercial transactions are too large and expensive to be handled only by a real estate agent. In cases of residential transactions, a buyer or seller always has the option to hire legal representation. If you have never purchased a home, or feel uncomfortable with the process, it may be best to hire a lawyer for help.

When should you hire a real estate attorney?

There are many different circumstances in which hiring a real estate attorney is advisable. A handful of states require the presence of a real estate attorney during closings. In states where a lawyer is not required, there are circumstances in which it is in your best interest to hire someone for legal representation.

Do I need a lawyer at a real estate closing?

A handful of states require the presence of a real estate attorney during closings. In states where a lawyer is not required, there are circumstances in which it is in your best interest to hire someone for legal representation. Whether buying or selling a property, a lawyer can ensure your legal rights are protected.

Do I need a lawyer for a residential real estate transaction?

In cases of residential transactions, a buyer or seller always has the option to hire legal representation. If you have never purchased a home, or feel uncomfortable with the process, it may be best to hire a lawyer for help. There are also times when a residential real estate transaction begins easily, but disputes arise during the process.

What is a commercial real estate lawyer?

Commercial real estate lawyers work with businesses to buy, sell, lease, and develop properties. Residential lawyers can prepare and manage mortgage, title, and closing documents associated with buying a home.

Why do you need a lawyer for real estate?

Whether buying or selling a property, a lawyer can ensure your legal rights are protected. Commercial real estate transactions and overly complex situations require real estate lawyers to guarantee a party’s best interests are upheld. If you are deciding whether to hire a real estate lawyer, keep reading for guidance in your decision-making process.

What Do Real Estate Attorneys Do?

Other times, real estate lawyers are only hired to act as litigators if a dispute arises in the process of a transaction. There are two subsets of real estate law: commercial and residential. Commercial real estate lawyers work with businesses to buy, sell, lease, and develop properties. Residential lawyers can prepare and manage mortgage, title, and closing documents associated with buying a home.

What happens if there is a discrepancy in a real estate transaction?

If there is ever a discrepancy during the transaction, it may be in your best interest to hire help. Real estate transactions are expensive, and if mishandled, can result in decades of problems for the buyer.

What to do if a real estate transaction is cut and dry?

If a real estate purchase is not simply cut and dry, hire a lawyer for guidance. Transactions including problems with titles, disclosure, mineral or surface rights, and tax concerns can all lead to the need for a real estate lawyer. If there is ever a discrepancy during the transaction, it may be in your best interest to hire help.

What to do if you are involved in a commercial sale?

If you are involved with any commercial purchase or sale, always contact a real estate lawyer. The investment and purchase are too big to be left to agents not educated specifically in real estate law.

What to consider when buying a commercial property?

When buying a commercial property, there are many factors to consider that are not present during residential transactions. Commercial real estate lawyers will be present to advise you on environmental concerns, zoning issues, liens, easements, legal description accuracy, structural conditions, and any rents derived from the property.

1. All of the Documents

When expanding the horizons of your business, it requires a lot of tedious paperwork. This is something you shouldn’t be managing yourself—you’ve got a business to run.

2. Someone to Make Deals on Your Behalf

When making large transactions, like buying and selling commercial properties, there’s a lot of negotiation that needs to be done. You can try to nickel and dime the other party on your own, but it’s not going to get you very far.

3. Can You Read That Fine Print?

Be wary of fine print. This should be taught to anyone that has the ability to sign their name.

7. Feeling Overwhelmed

When creating an empire—or even a new storefront to sell baked goods—there’s a lot of pressure on your shoulders. You have the livelihoods of your employees and yourself at stake. There is also the potential mounds of debt that a failing business accrues.

8. Contemplating Leaving the Deal or Jumping in Too Fast

Some deals aren’t meant to happen. But some are. Letting a negotiation slip through your hands is a devastating blow to a company.

Lawyer Up!

Keeping your firm’s doors open is hard enough. It’s a constant battle of push-and-give to run your business. When you’re expanding operations, it’s vitally important to have a real estate attorney.