Commercial real estate is far different from buying a house. The transaction is much more detailed, and you are presumed to be a smarter buyer. However, it can take effort to bring yourself up to speed on what you need to know.
Before you sign any agreement, make sure that you research the property itself and its allowable uses. Properties may be zoned and only allow certain uses. You do not want to find out about certain restrictions after you agree on the deal because they could harm the value of your investment. Accordingly, you must understand commercial real estate law before you make the investment.
You need the right legal structure to both protect your business from liability and ensure the best possible tax treatment. Your attorney will help you decide on the right corporate structure and draft the necessary corporate documents.
The closing process can be far more complex in a commercial real estate transaction. Not only do you need to lock down your financing, but there will be far more documentation involved in the transaction. Each of these documents needs to be reviewed closely because they could contain important disclosures. Each document could also have important rights that you can enforce and obligations that you must follow.
Given what you have at stake in your investment, you should always hire an attorney to review the documents and protect your legal interests. Commercial real estate deals can have complex terms that you need to understand before you sign. As a buyer, you have some leverage to negotiate the legal terms of the deal.
Call an Atlanta Commercial Real Estate Attorney
Battleson Law LLC provides experienced and pragmatic legal advice for commercial real estate investors that puts them in a better position for success. Call us today at 470.766.0811 or contact us online to learn how we can help you.