As a business owner, it’s expected that you enter into different types of agreements, including some commercial real estate transactions. This is especially true if your business deals with commercial real estate, such as buying and selling commercial properties. That being said, working with a real estate lawyer makes a lot of sense.
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Primarily, real estate lawyers refer to legal professionals who specialize in real estate matters, both residential and commercial. They also take care of legal issues involving the sale or purchase of properties, including disputes on the properties.
If you consider hiring a real estate lawyer for your business, below are some ways they can help you from the get-go:
Offer Adequate Legal Assistance
Generally, transactions involving commercial real estate need an in-depth understanding of business and real estate law. Unless you’re a legal expert yourself, you may need adequate assistance to ensure you’re making the right decision for your business.
By having a lawyer at your side, you can keep yourself updated with the terms and legalities concerning commercial real estate transactions. Your lawyer can also assist by advising you of any potential issues that may occur in the negotiation and purchase process. Also, they can help you get the best possible buying terms in support of your business goals.
Prepare Contracts And Other Legal Documents
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For business owners like you, entering into a commercial real estate transaction can be overwhelming. If you have no idea what to do in this kind of transaction, it may put your business in a bad light. Thus, to protect your business interests from start to finish, it’s best to hire a legal professional, like attorney Ryan Gibbs, to help prepare contracts and other legal documents, including:
- Purchase and sales agreements: These documents outline the sellers and buyers’ rights, responsibilities and obligations, and liabilities. In case a conflict arises, these agreements can be used to settle the issue or initiate a cause of action in court. If you’re either a seller or buyer, your lawyer can draft and check the contract to ensure your business rights and interests are protected.
- New construction agreements: These contracts define the sellers and buyers’ rights when dealing with new construction. For instance, if your business is dealing with construction builders, your lawyer can review the contracts prepared by builders and make sure your rights are recognized and respected.
- Lease agreements: These usually define terms, such as rent, fees, start date, renewal details, and many more. So, if you’re in the business of renting out commercial properties, your lawyer can help you make a lease agreement while keeping your rights and interests in mind.
- Handle Real Estate Disputes
Generally, real estate disputes can occur in the business world due to a variety of issues, including titles and insurance of the property, boundary matters, fraud, and breach of contract. Whatever dispute you’re facing, it can adversely impact your business in several ways. For instance, the fact that you have a real estate case in court may cause a bad reputation to your company, thereby incurring financial losses over time.
To avoid this from happening, working with an experienced real estate lawyer can be a perfect idea. Doing so can help you handle this legal matter more effectively by providing strong legal representation in court and getting a judgment in favor of your business.
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Find Real Estate Opportunities To Save Money
If you’re running a real estate business, pricing can be a tricky element of the sales process. This is especially true if you’re buying a commercial property for your business. Hence, to get the most out of the right pricing, it’s best to hire a real estate lawyer instead of a realtor.
In most cases, dealing with a realtor means spending more money on their commission. Having a lawyer, on the other hand, means they’re not working for a commission but they work for you. In short, it’s the legal professional’s job to look for real estate opportunities where your business can save money in the long run.
For example, your lawyer can provide valuable advice about purchasing a property, prepare or review the contract for you, and figure out the best ways to negotiate for the price. That way, you can acquire a property at a reasonable price, getting more savings for your business.
Before entering into your business’ next real estate transaction, be sure you have a reliable real estate lawyer at your side to help you navigate a sales process. Since real estate is considered a huge investment, you should take advantage of a legal professional’s expertise in real estate law to avoid potential problems that may arise.
Therefore, if your business deals with a lot of real estate matters and transactions, keep this information in mind so you’ll know how you can make full benefit of hiring a real estate lawyer. Remember, when your business has a legal expert, you can guarantee that its rights and interests are safeguarded in all your dealings.