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Commercial Property Closings Archives

Closing on the property you choose for your business

As we recently discussed, buying commercial property means that you need to do your due diligence. This isn't always easy to do when you have your mind set on purchasing a specific property. We realize that you have your company's interests in mind when you are reviewing potential properties. Thinking about the possibilities may cloud your ability to notice if something is amiss.

What are some common commercial buyer due diligence mistakes?

Commercial real estate transactions are handled differently from residential ones. With the former, there is less governmental oversight and few disclosures that buyers and sellers must sign. This can create liability issues for both parties involved in the transaction.

Commercial property closings must be handled carefully

Finding the perfect property to buy for your business is exhilarating and frightening all at the same time. You are probably excited about the possibilities that the property will offer your business but you are concerned that something is going to go wrong before closing. This is understandable but learning a bit about the process and what to expect might help you feel a bit less stress.

What are some common commercial real estate title problems?

Purchasing a commercial property, for whatever reason, can be one of the most exciting purchases you will ever make in your life. You might be venturing into the restaurant industry or you are opening a retail store. Maybe you are opening a warehouse. It doesn't matter what it is you are doing, the purchase is a big one and one that shouldn't be taken lightly. So, what are some of the common commercial real estate title problems you could encounter?

Buying or selling a property is a big commitment

Real estate is a big part of Florida's economy, and individuals and businesses alike are often looking for the right place to make a base. Between new shops needing a storefront to second homes near the shore, someone is always buying property to make a dream come true.

What is the commercial property closing process like in Florida?

Much like a residential purchase and closing process, commercial ones start with an escrow deposit being made. Because commercial buildings are often more expensive than residential ones, escrow often doesn't come from a single source. Savvy commercial buyers often have their attorneys draft complex documents that spell out the conditions that both parties must meet in order to move forward with the sale.

Tips for commercial real estate investments

If you're wondering if investing in commercial real estate property is a good idea, make sure you do your homework. Some people would not dream of going into this market and if you don't have a heap of ambition, it may not be for you either.

Do you need an attorney at your closing?

Florida law does not require an attorney be present at a real estate closing, but there are definitely good reasons to have one. If you are purchasing commercial real estate property, it is doubtful you will want to "not" have a real estate attorney.

Real estate contracts and closing require careful consideration

Making the decision to buy a property is a big step. Real estate isn't cheap, so you have to make sure that you are doing your due diligence before you sign anything. There are many things that you need to think about when you are buying any type of real property.

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