Commercial real estate can be a great investment. The best way to make sure your investment is a wise one is to make sure everything is properly addressed during the closing process. M&A Law Firm, P.C. will protect your best interests and help ensure everything involved in the commercial real estate closing process is handled with the utmost care. Protect your investment right from the start and contact M&A Law Firm, P.C. to handle your commercial real estate closing.
What Should Happen Before a Commercial Real Estate Closing?
First and foremost, all agreements should be checked to make sure they line up with market expectations and protect your best interests. Be sure to fully understand the risks you may be undertaking with this transaction. Review any representation and warranty terms of the agreements.
Know any limits that will apply to use of your property. These limits may even appear in financial documents associated with the real estate transaction. Zoning restrictions may also be applicable. Check to make sure you are aware of any permitting requirements or title restrictions that could effect how your commercial property may be used. Such restrictions may limit use in a way that would make the property useless for your intended purposes or they may also severely limit your ability to sell the property should you want to in the future.
Additionally, all existing contracts relative to the property must be transferred. This means that if you are buying a piece of property where space has already been leased out, these existing contracts must be honored and transferred to you as the new owner. All tenants must also be notified of the transfer.
You will also want to make sure that the proper legal entities are listed on all agreements and documents pertaining to the real estate closing. Failure to do so may risk losing the legal protections that an entity such as a corporation or LLC can provide you with. You will also want to make sure that anyone signing on behalf of a legal entity actually has the authority to do so.
There are many other issues to deal with before and during a commercial real estate closing, including, but not limited to:
- Land surveys
- Title searches
- Water department certifications
- Property inspections
- Environmental assessments
We Are Here to Protect Your Commercial Real Estate Investment Right from The Start.
Investing in commercial real estate is a big undertaking. It can be extremely beneficial to you financially. Like all investments, however, a certain level of care must be taken before you get involved. The commercial real estate attorneys at M&A Law Firm are here to protect your best interests. We want you to get all the benefits investing in