Why You Need A Real Estate Attorney
Commercial Real Estate can be extremely complex and detail focused with each transaction having its own unique risk factors and legal issues. Thinking that your personal “general practice” lawyer will be able to maneuver through your commercial transaction could end up costing you greatly in the long run. Hiring an attorney who specializes in commercial real estate can help you to avoid both common mistakes as well as handle any complex real estate issues that arise throughout the transaction, enabling buyers to have a better chance of a smooth transaction. Having a knowledgeable real estate attorney is even more important in a commercial transaction in comparison to the need for one in a residential transaction. From negotiation through closing, there are many issues that could be encountered, some maybe minor while others could seem like deal breakers without the proper legal counsel. Having an attorney that knows the right questions to ask, understand the market in which the transaction is occurring, is a strong negotiator and truly understands what deal points are critical and which one would be beneficial but not necessary are all important factors. Additionally, a knowledgeable real estate attorney will ensure that the contracts are sufficiently detailed and structured to your advantage. They should envision every possible situation and make sure that they are addressed and covered, as clearly and concisely as possible, in the contract. Often costly, having the right commercial real estate attorney can save you money in the long run but will ensure that all deal points are addressed and that there are no surprises after the purchase. Money well spent for ones piece of mind!