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, either for residential or 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, A Law Firm can draft and/or review your contracts, advise you about any potential obstacles that might arise, and guide you towards a satisfactory resolution if any disputes arise.
With more than 50 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.
As a buyer, you take on immense risk if you fail to perform your due diligence and make sure that there are no hidden surprises that the seller neglected to mention. 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.
If you are buying commercial property, the process is often more complex than purchasing a home. 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.
Selling real property, especially your home, can be risky if you fail to follow the law, intentionally or otherwise, as you could face serious legal consequences down the road.
If you are selling a commercial property, you might need to move some funds to keep the business going while you await the finalization of the sale. We can advise you the best ways to keep the bills paid while navigating the selling process. Since 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. If your tenants are not paying their bills on time and that is affecting the sale, we can find ways to resolve landlord-tenant disputes for businesses.
The lender and the broker both want the sale to go through, but they may not have the buyer or seller’s best interests in mind. Even if the deal is not satisfactory to both parties, they may try to push it through anyway. An attorney can ensure that 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.
Call (858) 360-7080 to learn more about buying or selling real property.