Commercial real estate can be a lucrative investment as long as you take certain steps to protect your financial interests along the way. Because your livelihood is at stake with every transaction, it is wise to seek legal counsel when buying or selling. Below, the team at GosselinLaw in Arlington, MA, explains how their real estate attorneys protect clients every step of the way.
How Real Estate Attorneys Assist Commercial Buyers & Sellers
When Buying Property
Purchasing commercial property is always risky, but buyers can mitigate some of the financial threats by hiring seasoned real estate attorneys to represent them during the transaction. For example, the buyer’s lawyer will ensure the property is zoned for their commercial intentions before negotiations begin. This will prevent both parties from wasting their time, and it will save the buyer from investing in a space that they cannot actually use. The buyer’s attorney will also review the contract thoroughly and ensure the seller discloses all relevant details regarding the property.
When Selling Property
Closing a commercial transaction is more complicated than finalizing a residential one, so even if you have sold multiple homes in the past, you should always seek legal representation when selling commercial property. As the seller, your lawyer will obtain all the consent documents needed to execute the transaction. They will devise a fixed expiration date regarding due diligence, so the buyer cannot terminate the sale right up to the closing. The real estate attorney also mitigates any potential issues that are likely to arise over the course of the proceedings.
If you’re planning on buying or selling commercial real estate, turn to GosselinLaw. Based in Middlesex County, they represent clients in a variety of practice areas, including estate planning and business law. Learn more about Attorney John Gosselin and his knowledgeable team by visiting the firm online. To schedule a consultation with this real estate attorney, call (781) 782-6000.