Buying any kind of real estate can be a massive undertaking, but a commercial real estate purchase can be particularly complex. If you are running a business, you already have a lot of stake. Getting taken advantage of in a real estate transaction could add even more stress to your life or even put your company in jeopardy. This is why you should contact a Long Island, NY real estate closing lawyer before you sign on any dotted lines. We can help you make sense of any deals and make it easier for you to make the right decision.
What Can an Attorney Do During a Commercial Real Estate Purchase?
A real estate lawyer can do a number of things to help your commercial real estate purchase go smoothly. They can:
Translate the legalese: Contracts in any industry can be inscrutable, but the ones in the commercial real estate industry can really stand out for how difficult they can be to understand. The legal jargon and other uncommon terms will not be a problem for your lawyer though. If you are confused about anything that the contract says, your attorney is going to be able to translate for you. They will make it clear exactly what you are signing onto.
Handle all of the details: There are so many things to keep track of during a commercial real estate purchase. Your lawyer can ensure that nothing falls through the cracks. They can make sure that you handle property surveys, inspections, and anything else that would be required before you hand over your money.
Negotiate better terms: Sometimes a property seller actually has some wiggle room when it comes to contract terms. An experienced lawyer can identify these opportunities and negotiate on your behalf. You might just end up getting a better deal.
Look into the history of the property: Your lawyer will look into the history of the property to make sure that you are not going to run into any surprises after it becomes a part of your real estate portfolio. Our firm can check for issues like liens or look back at the inspection history of a building. If there is a problem, we will let you know.
Research local laws: Your attorney will also make sure that this property is suitable for your needs and that no local laws will interfere with your plans. Zoning laws are an example of something that can interfere with a business owner’s plans. If this property cannot be used for your intended purpose due to such rules and regulations, a qualified real estate attorney will be quick to tell you that there is a problem.
Contact Our Lawyers Today
So if you are ready to close on a big commercial real estate purchase, make sure that you have an experienced legal professional on your side. Contact David A. Gallo & Associates LLP and learn more about what we can do for you.