Failing to vet a property and contract for sale can lead to complications down the road. If you are selling or buying a piece of property for commercial use, you need to understand the contractual terms, land use and zoning restrictions, and related matters. A San Diego real estate attorney at Purdy & Bailey, LLP can draft and/or review your contracts, advise you about any potential obstacles, and guide you towards a satisfactory resolution if any disputes arise.
With more than 65 years of litigation and transactional experience between our attorneys, we understand how oversights in the contract stage can lead to lawsuits later on. From the beginning, we can make sure you are making the best decisions for your home or business.
Contact Purdy & Bailey, LLP at (858) 360-7080for guidance with your real estate matter.
What You Need to Know About Buying Commercial Property
As a buyer, you take on immense risk if you fail to perform your due diligence in making sure there are no hidden surprises. In addition to title searches, you must also investigate the possibility of easements, land use, zoning, liens or potential health hazards like asbestos, lead-based paint, radon or pests.
When buying commercial property, buyers, sellers, lenders, and brokers typically engage in lengthy negotiations. An attorney can evaluate the property and find out if the seller’s offer is fair. Keep in mind that you are liable for any fixes that need to be made, even if the previous owner committed unlawful violations. It may be in your best interest to perform an environmental site assessment before closing the deal.
Questions You Need to Ask Before Selling Property
Selling real property can be risky if you fail to follow the law, intentionally or otherwise, as you could face serious legal consequences down the road.
Before selling your property, speak to an attorney if you have the following questions:
- Can I sell a property with a lien?
- How do I remove a lien? Do I need a mechanic lien release?
- Do other people, such as remainder\men in a will, have a claim to the property?
You may need to move some funds to keep your business going while you await the finalization of the sale. We can advise you on the best ways to keep the bills paid while navigating the selling process. Because we divide our focus between real estate and business law, we can make sure you are abiding by the terms of both your business contracts and your real estate agreements. For example, if your tenants are not paying their bills on time and it is affecting the sale, we can find ways to resolve landlord-tenant disputes for businesses.
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Not all parties you work with will have your best interests in mind. An attorney can ensure the agreements reflect the buyer or seller’s true interests. With many parties involved, you do not want to be the only one without a lawyer.
"I was immediately put at ease with the treatment I received and attention to detail. "John G.
“I recommend Purdy and Bailey with a 5 star review.”J.B.
“Purdy and Bailey are the real deal.”J.K.