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Why You Need an Attorney Prior to Signing a Commercial Real Estate Contract

Posted on: May 11, 2015

Hiring a South Florida commercial real estate attorney prior to signing a contract is crucial to ensure that you don’t make a mistake. There are several pitfalls that you need to look out for with any commercial real estate contract, and an experienced attorney will be able to catch them before they become real issues. There can be many terms involved in a commercial real estate contract, and when you aren’t knowledgeable of the law it is easy to make a mistake or overlook an important detail.

Your attorney will review your contract and ensure that you are protected

Your attorney will go over the details of your contract and ensure that you have legal remedies if something doesn’t go as expected. Your attorney will also renegotiate any terms of the contract that are unfavorable to you or unfair. If the terms of the mortgage need to be modified, your attorney can assist with that as well.

If there are any terms of the contract that you don’t understand, your lawyer will explain them to you so that you understand exactly what you are getting into. A good attorney will also cover every possible contingency in the contract and ensure that you always have a way to deal with future disputes or issues.

There are several aspects of a commercial real estate deal that must be reviewed

Your attorney will review every important aspect of your deal including zoning laws and ordinances, leasing or buying requirements, the details of the mortgage, and more. A commercial real estate transaction can be quite complicated, but your attorney will simplify the process and make it easier for you to navigate through. Any potential title defects or liens against the property will be checked by your attorney. If any title defects are caught, your attorney will advise you on the best course of action to deal with them.

Commercial real estate deals are major events

If you are involved in a commercial real estate deal, it is likely one of the biggest business events of your life, and you never want to walk into a negotiation or a closing without a skilled and experienced attorney by your side. A South Florida commercial real estate lawyer can catch important problems with your agreement that can end up saving you tens of thousands of dollars in the future or more. Most importantly you will have the satisfaction of knowing that you are being represented by a legal expert who understands how commercial real estate contracts work.

If you are involved in any type of commercial real estate negotiation, contact Mark Schecter at Schecter Law today for a consultation.