Commercial real estate laws are what regulate the sales of business properties. It also handles other things like zoning issues, commercial leases, liquor licensing, and property or land use. So, a commercial real estate lawyer is someone who specializes in those laws in an area.
A lawyer in this field oversees your purchasing or leasing agreements, closing information, mortgage information, and even zoning ordinances. They are with you from start to finish in the real estate process, guiding you through a complicated legal field.
Commercial real estate lawyers may handle contract negotiations, various types of commercial leases, and representing clients in court. A large aspect of commercial real estate law is commercial banking, so a commercial real estate lawyer may also handle things like securing a loan for your business and obtaining a line of credit for your business.
Buying commercial property is not a quick, straightforward thing. There are a lot of problems and challenges that can arise including leaseholds, corporate ownership, and environmental issues. None of these things are easy to resolve, so hiring a real estate lawyer, in the beginning, can make things less of a headache for you, because they’re trained to navigate these fields and deal with any other issues that arise during your real estate purchase.
Even the simplest negotiations can be stressful and emotionally taxing but getting emotional during a negotiation isn’t a good thing. Having your commercial real estate lawyer with you means you have someone who isn’t emotionally attached to your business and can navigate the negotiations without emotions getting in the way; this will help you get the best possible resolution to your negotiations.
A commercial real estate lawyer is trained to help you spend time vetting the property you’re interested in buying or leasing, so they can help make sure the property is exactly what you want before you move forward with the deal. Their trained eyes can pick up on little things you may overlook because this isn’t your field of expertise.
Buying or leasing commercial real estate is much different from buying or renting a house. The lease for a commercial property tends to run for longer while buying the property can come with its own risks and challenges that you may need a lawyer for. Your lawyer is there to help protect your finances and get you the best deal out of your purchase or lease.
The laws for commercial real estate are usually pretty complex, and they tend to vary from area to area. They can even vary in the same city in some cases. If you’re seeking to purchase or lease commercial real estate, calling a lawyer beforehand can make everything go much smoother for you, and you’ll have access to someone who can answer your questions quickly.
Imagine being ready to begin construction on this parcel of land you’ve purchased for your business, but just before you break ground you learn there’s a zoning law that’s standing in the way of your construction. Hiring a commercial real estate lawyer, in the beginning, means they’ll be aware of that zoning law and will help you find a different plot of land or an alternative to work with the zoning laws.