Investing in commercial real estate can be profitable when all of the right pieces fall into place. First, you need to locate the right opportunity and property. Next, there is the matter of finding the seller. From this point, things have the potential to get complicated. One of the best decisions you can make during your commercial real estate undertaking is to find a reputable, local real estate attorney to review all legal documents and provide you with advice throughout the process. Here are some considerations regarding the importance of having counsel for your commercial real estate venture:
Having Counsel Can Make the Process More Efficient
When you are looking to expand your business interests or set up a new location, time is usually of the essence. Once you identify the right space, you and the seller or landlord are going to engage in negotiations. Without the proper structure and guidance, the back and forth of these exchanges can be lengthy. For example, if you are discussing lease items and do not have a sense of what terms are customary for the community, you could end up digging in, and spending time on an issue that is not likely to change. When you have area counsel during your negotiations, he or she can provide insight and advice regarding the contract or lease language and assist with negotiating terms. Having this support and guidance can expedite the process.
Protecting Your Interests
Entering into a commercial real estate transaction involves risk. If you are a buyer, you are taking a chance that the funds you are paying will be worth your investment. If you are a commercial tenant, you are agreeing to pay rent and abide by the lease with the hope that your business will be successful and your landlord will be fair and reasonable. Your real estate attorney can review critical legal documents and ensure that they are drafted in a manner that minimizes risk to you and your business interests. Your counsel can also inform you about potential issues and help you consider ways to avoid future complications.
When you have the right representation, you can enter into your commercial real estate venture with the advice and support of someone who can advise you regarding the law and the best ways to protect your interests. At Rabideau Klein, we have extensive experience handling multi-million-dollar transactions for high-end real estate in the Palm Beach areas. Guy Rabideau, Esq. and David E. Klein, Esq. are Florida Board-Certified Real Estate attorneys with the expertise and local knowledge you need to ensure that your commercial real estate transaction is conducted with excellence and precision. Contact Rabideau Klein today to discuss your real estate legal needs.