Business owners frequently enter into commercial transactions thinking that the paperwork seems straightforward enough and there’s no need to consult with legal counsel. Unfortunately, though, that decision often leads to unforeseen consequences. For instance, a seemingly forthright agreement was more complex than it first appeared, and the people involved suddenly find themselves facing a legal dispute.
There are many factors to consider when you’re looking to rent, buy, sell, or lease a commercial property, especially if you’re new to the business market. More experienced renters and buyers won’t hesitate to get the best deals they can for themselves — often to the detriment of your business. That’s why you should always start by consulting with an attorney on commercial real estate matters.
Before you draw up any paperwork, enter into any contracts, or even go look at any properties, consult with an experienced business law attorney. Otherwise, you may find yourself facing any number of real estate disputes. Here are just a few concerns that could arise if you don’t take necessary precautions:
The good news is that the vast majority of legal disputes can be avoided with proper planning, and many more can be resolved even after the fact. The key to keeping your business out of trouble is eliciting appropriate legal counsel whenever you run into a question or concern.
Maybe you already have a space for your business, and maybe you don’t. In either case, I consider it my duty to help business owners start off on the right foot when it comes to buying or renting their first (or simply their next) property. That’s why, below, you’ll find a list of factors to consider when you’re researching properties:
In addition to clientele and growth concerns, you must also consider the financial aspects of the agreement:
Some of these questions can be answered simply by asking the seller or lessor of the property. Others will require some research and calculations. To ensure you aren’t overlooking any important legal matters — and that you’re anticipating potential complications in the future — please give my office a call.
Choosing the right property is an important part of taking care of your business, as is knowing when to buy, when to sell, and when to walk away. After all, poorly negotiated leases and sales contracts can have disastrous long-term effects. My practice focuses on identifying those issues and taking steps to minimize and/or eliminate risk. If you’re facing a commercial real estate concern, call to find out how I can help.
