Assembling a Team of Experts for a Commercial Real Estate Purchase
As you prepare for your next commercial real estate purchase or lease, you’ll want to gather a team of experts including a commercial broker, accountant and a Fort Lauderdale commercial real estate attorney at the very least.
These experts will assist you during some of the most important steps of your deal and ensure that you don’t miss out on crucial due diligence or other preparatory steps. Their advice will prove to be invaluable considering how much you are going to be investing in your next acquisition or lease.
A skilled commercial real estate broker can help you find the top commercial properties in South Florida that are within your budget and also help you locate some of the best potential deals on the market. Your broker should be highly experienced with a clear track record that they are willing to share with you.
It’s necessary to have an experienced commercial real estate attorney available for guidance whether you are looking to purchase or lease a commercial property. Your attorney can help you with negotiating a favorable lease or purchase agreement and other contracts, identify and handle crucial due diligence steps, assist you with your closing and more.
You’ll want to get the advice of your accountant regarding the tax implications of a commercial real estate acquisition or lease. They’ll also help you determine what you can afford and anticipate your future budget and expenses so that you can plan accordingly.
Your mortgage broker will help you figure out what financing options you qualify for and can provide you with qualification documents if they are needed. They can also find financing options that you may not have considered previously, such as U.S. Small Business Administration guaranteed loans or other similar programs.
There are several other experts that you may want to hire for your commercial real estate transaction such as property inspectors, commercial real estate insurance agents, environmental specialists, appraisers, property managers, cleaning crews and others.
Property managers can give you advice regarding what you can expect in terms of maintenance and management requirements for a particular commercial property you are considering buying. Cleaning crews can give you estimates regarding maintenance costs and help you rehab your property if it is required.
Your insurance agent can provide you with any necessary premium quotes so that you can budget accordingly, and inspectors can guide you regarding any critical inspections that you’ll need.
For more information on assembling a team of experts or other advice on your upcoming commercial real estate deal, contact Mark Schecter, a leading commercial real estate lawyer in Fort Lauderdale at (954) 779-7009 for a consultation.