DISCLAIMER: THE INFORMATION CONTAINED HEREIN IS SOLEY FOR EDUCATIONAL PURPOSES. IT IS NOT LEGAL ADVICE OR LEGAL AUTHORITY AND IS ONLY THE AUTHOR’S INTERPRETATION OF REAL ESTATE LAW ON THE SPECIFIC ISSUES DISCUSSED.
Real estate is inherently unique and subject to local laws and conditions of the local landscape environment. You need an attorney with “boots on the ground” intimately familiar with local laws and conditions. With a presence since 1951, the law firm of Adams & Sullivan has been a fixture in the local community assisting hundreds of small and large businesses navigate the land use and development regulations of their commercial real estate property.
The experienced real estate attorneys of Adams & Sullivan understand the cities’ and counties’ local officials and processes involved in commercial development. The local intricacies involved require a knowledgeable attorney to avoid the pitfalls that could cost you hundreds of thousands, if not millions of dollars, in unnecessary costs and delays. It is not the place for your out-of-state attorney or general counsel to go it alone without seeking local legal representation.
Securing the right commercial real estate for your business requires careful planning, negotiation, and legal expertise. The real estate attorneys of Adams & Sullivan provide guidance, conduct due diligence, and advocate for your interests so you can secure the right commercial property in the greater Omaha metro. In a nutshell, these are the steps you can expect from your attorney when working toward your commercial real estate deal.
- Understanding Your Needs: Your attorney will start by understanding your business’s specific needs, including location, size, layout, zoning requirements, and budget. By understanding your objectives, your attorney can help you identify suitable properties that meet your criteria.
- Conducting Due Diligence: Your attorney will conduct thorough due diligence on potential properties to assess their legal and financial viability. This may include reviewing zoning regulations, environmental assessments, title reports, lease agreements, and property condition assessments. Identifying any potential issues or risks early on is essential for making informed decisions.
- Negotiating Purchase or Lease Terms: Your attorney will negotiate the terms of the purchase or lease agreement on your behalf. This includes negotiating the purchase price, lease terms, rental rates, lease duration, renewal options, tenant improvements, and any other provisions that impact your rights and obligations as a tenant or owner.
- Drafting and Reviewing Contracts: Your attorney will draft or review the purchase agreement, lease agreement, or other contracts related to the transaction. It’s essential to ensure that the terms of the contract accurately reflect your agreements with the seller or landlord and protect your interests.
- Navigating Regulatory Compliance: Commercial real estate transactions are subject to various regulatory requirements, including zoning laws, building codes, environmental regulations, and tax laws. Your attorney will ensure that your transaction complies with all applicable regulations and obtain any necessary permits or approvals.
- Resolving Disputes: If disputes arise during the transaction process, such as disagreements over contract terms or property conditions, your attorney can help resolve these disputes through negotiation, mediation, or litigation if necessary. Having legal representation ensures that your rights are protected and that disputes are resolved efficiently.
- Closing the Transaction: Your attorney will oversee the closing process to ensure that all legal requirements are met and that the transaction is completed smoothly. This includes coordinating with other parties involved in the transaction, reviewing closing documents, and facilitating the transfer of ownership or possession of the property.
- Addressing Post-Closing Issues: Even after the transaction is completed, your attorney can assist with any post-closing issues that may arise, such as lease disputes, property defects, or title issues. Having ongoing legal support ensures that your interests are protected throughout the life of your commercial real estate investment.
In summary, your local real estate attorney plays a vital role in securing the right commercial property for your business by providing legal expertise, conducting due diligence, negotiating agreements, navigating regulatory compliance, resolving disputes, and overseeing the closing process. Working with an experienced local real estate attorney can help you achieve your goals and protect your interests in commercial real estate transactions.
