The purchasing commercial real estate is an expensive endeavor and should never be taken lightly. Even if a person has found the perfect place or building for their business, they need to be careful when making the purchase ensure they are protected in case anything goes wrong and to prevent issues that could occur once the real estate is purchased. To do this, it’s a good idea to consult with Commercial Real Estate Attorneys in Chicago.
Commercial real estate attorneys understand the serious nature of these purchases and how much money they can involve. They want to be sure their clients are able to obtain exactly what they expect and prevent any surprises after the land is purchased. They’ll check the title to the land to be sure it’s clear for sale and make sure there are no liens or other issues that would be inherited by their client through the purchase. This can help prevent extra fees and payments that will need to be paid once the sale is completed and before it can be used by the purchaser.
The attorney will also go through the purchase agreement before it’s signed. This is done to be sure the language in the agreement is clear and that all basic elements are included. It’s extremely beneficial to have an attorney review this agreement before a purchase to ensure it’s legally sound, and it doesn’t favor the seller to the point of being a poor option for the purchaser. An attorney who is familiar with commercial real estate contracts knows what to look for and how to spot terms that should be avoided or will need to be changed before the agreement is finalized and signed.
Commercial real estate purchases involve large sums of money, and a purchaser will want to be as careful as possible when signing any purchasing agreement. By consulting with commercial real estate attorneys in Chicago, you could potentially save thousands of dollars in fees, liens, and other issues that could occur by signing the contract without assistance. Contact Starr, Bejgiert, Zink & Rowells today to have a purchasing agreement read before signing to be sure you are making the right choice and agreeing to terms that will be favorable to you.