Featured Image

Things to Think About When Purchasing Commercial Real Estate | Schecter Law

Posted on: September 1, 2016

Buying commercial real estate in South Florida can potentially be lucrative, but if you’re new to this type of investment you’ll have several things to consider. Commercial real estate deals can be risky when they are not properly planned out, and it’s advisable to hire a South Florida commercial real estate lawyer prior to engaging in any negotiations or closing on your deal.

Before you start looking

Before you even start looking for a commercial real estate investment it’s a good idea to consider these factors:

What you need to do during the purchasing process

After you’ve prepared yourself, it’s time to go out and look for the right commercial property for your needs. A commercial real estate agent or an experienced commercial real estate lawyer can help you narrow down the best available properties once you know what you want.

It’s always a good idea to perform extensive due diligence when you’ve found a property you may be interested in buying. Have a professional inspect it, determine why the property is being sold, and find out what kind of zoning rights the land has so you will know how it can and cannot be used.

Be sure to extensively consult with your team which should include least one accountant, your broker, a commercial real estate lawyer in Florida, and your investors.

Closing on the property

The most important thing to think about when you’re closing on your commercial real estate property deal is the contract. Even if you’ve read it and you believe you understand it fully, you need to have it looked over by a trustworthy lawyer for commercial real estate in South Florida. If you missed anything or if the contract isn’t formulated properly, your will catch these problems and fix them before they turn into major liabilities.

If you’re currently involved in a commercial real estate deal or are planning one for the future, contact Mark Schecter at Schecter Law today at (954)-779-7009 for a consultation or to ask any questions at all.