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3 reasons why you need an attorney during a commercial real estate transaction

On Behalf of | May 29, 2023 | Real Estate

Whether your company is buying property, selling, investing or looking to rent, a commercial real estate transaction is a major undertaking.

From protecting your interests to navigating the complex legal matters involved in the deal, an attorney can provide invaluable support throughout the process.

They can provide risk mitigation strategies

Commercial real estate transactions involve a myriad of legal intricacies that can be overwhelming for the average person. They require a deep understanding of relevant property laws, zoning regulations and contractual obligations (among other things) to identify potential risks. An attorney can offer experienced guidance that will help you mitigate the potential legal risks of the deal, such as unfavorable clauses or ambiguous language in your contract or hidden liabilities that could lead to costly future litigation.

They can guide contract negotiations

Negotiation plays a pivotal role in any commercial real estate transaction – because almost everything is negotiable. Securing the best possible terms is crucial to achieving your goals. An experienced attorney can act as your advocate during contract negotiations, leveraging their knowledge of market trends, comparable transactions and the law to secure favorable outcomes that advance your goals. During negotiations, they can effectively identify potential areas of compromise with the other party and help you structure a deal that will maximize benefits and minimize liabilities.

They can offer transactional support and due diligence

Due diligence is vital in any commercial real estate transaction to ensure that you have a clear understanding of the property’s condition, legal status and any clouds on the title or other risk factors. Attorneys play a crucial role in conducting due diligence, verifying property titles, surveying the land, investigating zoning regulations, assessing environmental risks and reviewing any existing contracts or leases. They can also help you navigate the complex web of paperwork, deadlines and regulatory requirements involved in a commercial real estate transaction.

In the event of disputes or complications, legal guidance becomes even more valuable. Having that guidance helping to inform you from the start of the process can provide you with the peace of mind and the confidence you’ll need to make informed decisions as you move forward.