If you live in the Seattle area, and you are looking to buy or sell commercial real estate, you should seek guidance from a commercial real estate law attorney. Commercial real estate is more complicated than residential real estate and a mistake will have a greater consequence to you and your business.
When a person buys or sells residential real estate, the transaction is usually straightforward. Commercial real estate involves complicated steps and has more issues than residential real estate. Below are a few of the benefits that come from working with an experienced commercial real estate attorney.
What is the Job of a Commercial Real Estate Law Attorney?
An attorney who specializes in commercial real estate law will help you deal with the many steps that are involved with purchasing, selling, financing and developing commercial real estate. He or she will help to ensure that there are no zoning issues, land use issues, environmental issues or title issues with the commercial real estate.
A commercial real estate attorney understands the laws and regulations that must be followed. Also, he or she will help with sale negotiations, analyzing contracts and explaining the buyer agreements. A commercial real estate attorney can help identify potential problems or contract agreement issues that require further investigation and assist with the closing process.
A commercial real estate attorney ensures that the transaction is executed correctly and makes sure that the documents accurately reflect the agreement between the parties. For these reasons, working with an experienced commercial real estate attorney will eliminate a lot of stress and will help to get through the deal with the least amount of hassle and problems.
How a Commercial Real Estate Law Attorney Brings Benefits to a Seller of Commercial Property
- An experienced commercial real estate attorney will be able to provide you with a purchase and sale agreement that is appropriate for the commercial real estate you are looking to sell.
- It is also important that the commercial real estate attorney review the title and other issues that may be present with the commercial real estate to determine the best way to present and sell the property. Depending on the issues the commercial real estate may have, a commercial real estate attorney will add language to the real estate purchase agreement to protect your interest and minimize your potential liability going forward.
- It is also important to make the determination as to what disclosures should be made or not be made.
How an Attorney Brings Benefits to a Buyer of Commercial Property
- Saves Time. If a business owner is trying to purchase commercial real estate, he or she is probably quite busy and has little time to investigate a structure or do the due diligence necessary to make sure the commercial real estate does not have issues that would present an unwelcome surprise after the purchase. Many times, appraisals are performed that are for the benefit of the seller. An experienced commercial real estate attorney understands how to analyze the appraisal for the commercial real estate.
- Understand and explain the local zoning laws. When a person is planning to purchase commercial real estate in the Seattle area, he or she may not understand all the zoning laws that concern the commercial real estate they are looking to purchase. The last thing you want is to purchase commercial real estate that you will not be able to use for the purposes you intend.
- Protects Clients’ Interests. When a person purchases commercial real estate for his or her business, working with a commercial real estate attorney protects the interests of your business. A commercial real estate attorney will be able to make sure that you sign a fair agreement and an agreement that protects your interest.
- Make sure the commercial real estate is worth the price you are paying for said commercial real estate. The issues that can greatly decrease the value of the commercial real estate involve title issues, environmental issues or zoning laws that prohibit you from using the commercial real estate as intended.
Commercial Real Estate Law Attorneys in Mercer Island
Peterson Law, PLLC has the experience in the commercial real estate area of the law to provide real value to both the buyers and sellers of commercial real estate. Working with an experienced commercial real estate attorney ensures that your interests and rights are protected throughout the transaction.
An experienced commercial real estate attorney can offer valuable advice about buying commercial real estate in a flood zone, properties that are exposed to hazardous substances or property with structural problems. The attorneys at Peterson Law work with clients in the Seattle area and have the experience needed to help people buy and sell commercial real estate.